SpaceX IPO launches today. Join the conversation.Click here

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksForesight Group Holdings Regulatory News (FSG)

Share Price Information for Foresight Group Holdings (FSG)

Share Price is delayed by 15 minutes
Get Live Data
432.00    9.00 (2.13%)
Bid:
432.50
Ask:
433.50
Spread: 1.00 (0.231%)
Market Cap: £481.11m
FSG Live PriceLast checked at - London Stock Exchange

Intraday Foresight Group Holdings Share Chart

Trading Update

12 Oct 2010 07:00

RNS Number : 2175U
Focus Solutions Group PLC
12 October 2010
 



 

 

Press Release

12 October 2010

 

 

Focus Solutions Group plc

 

("Focus" or the "Group")

 

Trading Update

 

 

Focus Solutions Group plc (AIM:FSG), a leading provider of multi-channel distribution software to the global financial services industry, is pleased to announce that it has performed ahead of expectations in the first half of the year, delivering increased revenues and improved profitability. Sales for the six month period to 30 September 2010 are expected to be approximately £5.4 million, an increase of 25% over the same period last year, with operating profit of over £1.1 million in the first half, compared to £0.1m in the same period last year.

 

New business sales have been particularly strong in the period, with orders from three different major retail banks, including the Group's largest ever contract win, worth a minimum of £10 million over the next two years and up to £20 million over a five year period. As a result, the Group has significantly improved visibility of earnings, and is therefore in a robust position as it enters the second half of the year, with over 80% of the current year's forecast revenues covered by order book. The Group's investment in its market leading focus:360° software is driving results, with increased licence revenues leading to improved operating margins and profit. The Group enters the second half of FY2011 with its strongest ever order book and a strong pipeline.

 

In addition, the benefits of the Coaching Platform acquisition in December 2008 are beginning to be realised, with the focus:progress product generating £0.5 million of licence sales in the period.

 

The Board attributes the Group's strong growth to the increasing focus on regulation and customer service within the financial services sector. By supporting banks' efforts to achieve compliance and improve the overall consumer experience, Focus is driving turnover and winning significant contracts with some of the world's largest financial services companies.

 

Richard Stevenson, CEO of Focus, commented: "Following our recent contract wins with three of the world's largest retail banks, our transformation from bespoke systems developer to software product provider has been clearly demonstrated. Our market leading product, focus:360°, allows the Group to continue to address similar opportunities, both within the Group's traditional markets and on an international basis in the months and years ahead, further diversifying and growing our customer base."

 

Alastair Taylor, Chairman of Focus Solutions commented: "This is an excellent performance from the Group. We have seen further evidence of the successful re-positioning of Focus Solutions as a product company; deriving a significant proportion of our revenues from high margin license fees, across a range of clients and demonstrating that focus:360° has become the strategic, multi-channel distribution platform of choice for leading financial services organisations."

 

The Group will be announcing its Interim Results on 7th December 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

finnCap

Marc Young / Charlotte Stranner

Tel: +44 (0) 20 7600 1658

Simon Starr (broking)

www.finncap.com

Media enquiries:

Abchurch

Heather Salmond / Joanne Shears / Mark Dixon

Tel: +44 (0) 20 7398 7729

mark.dixon@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 Bank of Ireland, 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

 

 

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
TSTEAXEFFAFEFFF
Date   Source Headline
12th Jun 20267:00 amBUSTransaction in Own Shares
11th Jun 20267:00 amRNSSale of public markets division to GGI
5th Jun 20267:00 amBUSTransaction in Own Shares
1st Jun 20267:00 amBUSTotal Voting Rights
29th May 20267:00 amBUSTransaction in Own Shares
22nd May 20267:00 amBUSTransaction in Own Shares
15th May 20267:00 amBUSTransaction in Own Shares
8th May 20267:00 amBUSTransaction in Own Shares
1st May 20267:01 amBUSTotal Voting Rights
1st May 20267:00 amBUSTransaction in Own Shares
24th Apr 20267:00 amBUSTransaction in Own Shares
17th Apr 20267:00 amBUSTransaction in Own Shares
10th Apr 20267:00 amBUSTransaction in Own Shares
9th Apr 20267:00 amRNSFY26 Trading Update
7th Apr 20267:00 amRNSTransaction in Own Shares
1st Apr 20267:00 amBUSTotal Voting Rights
27th Mar 20267:00 amBUSTransaction in Own Shares
20th Mar 20267:00 amBUSTransaction in Own Shares
13th Mar 20267:00 amRNSTransaction in Own Shares
13th Mar 20267:00 amBUSTransaction in Own Shares
9th Mar 20267:00 amBUSTransaction in Own Shares
6th Mar 20267:00 amBUSTransaction in Own Shares
5th Mar 20267:00 amBUSTransaction in Own Shares
4th Mar 20267:00 amBUSTransaction in Own Shares
3rd Mar 20267:00 amBUSTransaction in Own Shares
2nd Mar 20267:00 amBUSTransaction in Own Shares
2nd Mar 20267:00 amBUSTotal Voting Rights
27th Feb 20267:00 amGNWTransaction in Own Shares
26th Feb 20267:00 amGNWTransaction in Own Shares
26th Feb 20267:00 amGNWDirector Declaration
25th Feb 20267:00 amGNWTransaction in Own Shares
24th Feb 20267:00 amGNWTransaction in Own Shares
23rd Feb 20267:00 amGNWTransaction in Own Shares
20th Feb 20267:00 amGNWTransaction in Own Shares
19th Feb 20267:00 amGNWTransaction in Own Shares
18th Feb 20267:00 amGNWTransaction in Own Shares
17th Feb 20267:00 amBUSTransaction in Own Shares
17th Feb 20267:00 amGNWTransaction in Own Shares
16th Feb 20267:00 amGNWTransaction in Own Shares
13th Feb 20267:00 amGNWTransaction in Own Shares
12th Feb 20267:00 amGNWTransaction in Own Shares
11th Feb 20267:00 amGNWTransaction in Own Shares
10th Feb 20267:00 amGNWTransaction in Own Shares
9th Feb 20267:00 amGNWTransaction in Own Shares
6th Feb 20267:00 amGNWTransaction in Own Shares
5th Feb 20267:00 amGNWTransaction in Own Shares
5th Feb 20267:00 amGNWBLOCK LISTING SIX MONTHLY RETURN
4th Feb 20267:00 amGNWTransaction in Own Shares
3rd Feb 20267:00 amGNWTransaction in Own Shares
2nd Feb 20267:00 amGNWTotal Voting Rights

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.