16 Feb 2010 07:00
| IMMEDIATE RELEASE | 16 February 2010 |
eg solutions plc
YEAR END TRADING UPDATE
eg solutions plc ("eg" or "the Company"; LSE-AIM: EGS), the operations management software company, is pleased to issue an update on trading for its financial year ended on 31 January 2010.
The positive trends and steadier trading conditions reported in late September at the time of the Company's half year results announcement have continued during the second half year. Full year revenues are expected to be approximately £4.0 million (2009: £3.7 million) and a turn-round to a small profit from a loss before tax of £0.75 million in the previous year.
Net cash deposits as at 31 January 2010 were £0.4 million (31 July 2009: £0.6 million; 31 January 2009: £0.3 million).
During the year, eg has won a series of orders from major 'blue chip' financial services companies in the UK and internationally. UK contract wins included several orders from one of the leading life and pensions providers and Nationwide Building Society, culminating in the recent contract for an enterprise-wide software licence. International contract wins include one of the largest bancassurance groups in the Nordic region and a leading financial services company in South Africa. All of these contracts include initial licence fees and a provision for ongoing support and services.
Recently eg was pleased to receive industry recognition for its products at the Financial Innovation Awards 2009. In addition, a Company customer, Legal & General Retail Savings, received the Ventana Research 2009 Leadership Award for Operational Intelligence for a successful business transformation project which was supported by eg's software.
The Company has a solid pipeline of potential sales and expects to benefit from recurring maintenance revenues and the sale of additional services and licences to existing customers.
Announcement of final results for the year ended 31 January 2010
The Company expects to announce its final results for the year ended 31 January 2010 on 24 March 2010 in accordance with its usual timetable.
Ends
CONTACTS
| eg solutions plc | 01785-715772 |
| Elizabeth Gooch, Chief Executive Officer | www.eguk.co.uk |
| Bankside | 020-7367-8888 |
| Steve Liebmann, Simon Bloomfield or Andy Harris | |
| Arbuthnot Securities Limited | 020-7012-2000 |
| Tom Griffiths |
About eg solutions plc
eg solutions plc is a global operations management software company. Our software provides historic, real-time and predictive Operational MI. When implemented with our training programme for managers and team leaders to use this intelligence, we guarantee improvements in operational results in short timescales.
The Company, which is listed on the Alternative Investment Market ('AIM') of the London Stock Exchange, is committed to customer satisfaction and the ongoing development of its operations management solutions.