Last checked at 20 Apr 2010 10:11
The following amendment has been made to the 'Trading Update' announcement released on
20/04/10 at 7.00 under RNS ref 4328K
Correction in second paragraph with respect to previously reported half year cash balance.
All other details remain unchanged.
The full amended text is shown below.
| Press Release | 20 April 2010 |
Focus Solutions Group plc
("Focus Solutions" or the "Group")
Trading Update
Focus Solutions, a leading supplier of multi-channel distribution solutions to the global financial services industry, today gives an update prior to the Group's Final Results for the year ended 31 March 2010.
The Group is pleased to announce that operating profits before exceptional items for the full year and sales revenues will be in line with market expectations, with a strong closing cash position of £2.4 million, down marginally from £2.51 million at the half year.
Richard Stevenson, Chief Executive, said: "Focus has had a successful financial year, which is even more impressive considering the economic conditions in the last 18 months. We have continued to deliver on our strategic goals during this time including winning significant new licence sales with organisations such as Tenet, AWD Chase de Vere and Mastek which have further diversified our customer base and grown the proportion of the company's income from licence revenue. We have also been successful in expanding the organisation globally, beyond our traditional UK and Irish markets. In particular our contract win with Mastek expands the Group's reach into North America, Europe, and Asia Pacific.
"We are very optimistic as we head into FY2011 with the strongest pipeline in the Group's history and demand for focus:360° and our supporting services being driven by ongoing regulation, in particular the RDR."
The Group will be announcing its Final Results in June 2010.
- Ends -
For further information:
| Focus Solutions Group plc |
|
| Richard Stevenson, Chief Executive | Tel: +44 (0) 1926 468300 |
| Martin Clements, Finance Director | www.focus-solutions.co.uk |
| Daniel Stewart & Company plc |
|
| Andrew Edwards / Simon Leathers | Tel: +44 (0) 20 7776 6550 |
|
| www.danielstewart.co.uk |
Media enquiries:
| Abchurch |
|
| Heather Salmond / Joanne Shears / Mark Dixon | Tel: +44 (0) 20 7398 7709 |
| Joanne.shears@abchurch-group.com | www.abchurch-group.com |
Notes to editors:
About Focus Solutions Group plc
Focus Solutions is an established and proven supplier of multi-channel distribution solutions to the global financial services industry.
Focus has delivered over 100 complex front office projects with multiple integration points and partners to a blue chip client base including 8 out of the top 10 UK Life & Pension providers, a number of leading bancassurers including the likes of HSBC and Irish Life, significant wealth management players such as St James's Place and a number of mortgage providers. The technology truly enables straight through processing whilst providing an engaging client and adviser experience to submit and service business electronically.
focus:360° is at the core of all client implementations providing a single, agile, multi-channel technology platform. Focus has brought together three key areas of expertise: software, consultancy and service delivery. This totally integrated approach means clients can distribute any product across any channel. At the same time they can maintain an enterprise-wide view of the customer value and risk.
For further information on Focus, please visit www.focus-solutions.co.uk