SIR.L Regulatory News (SIR)

29 Jan 2007 07:02

Sirius Financial Solutions PLC29 January 2007 29 January 2007 Sirius Financial Solutions plc Pre-close trading update - Year ended 31 December 2006 Sirius Financial Solutions plc (AIM: SIR), the specialist supplier of softwareand services to the international insurance and financial services industry,today issued the following trading update for the year ended 31 December 2006. The Group continued to show good growth across all key activities and expects toreport revenues and operating profit (before goodwill amortisation) in line withmarket expectations. During 2006, Sirius continued its focus on winning newcustomers and the provision of managed services as well as successfullydelivering multiple projects across the globe. The Group has grown its footprint in Australasia having bought the remainingminority shareholdings in Datasure and further established Sirius for NewZealand. There is an encouraging level of interest in both Australia and NewZealand for Sirius's products, supported by some good reference wins. The offshore development centre in India has, as expected, grown its staffnumbers to nearly 60 in 2006. Further intermittent recruitment is planned overthe next two years. The utilisation of this centre will continue to have apositive impact on margins. As in 2006, the Group has started 2007 with a strong pipeline of new winbusiness and a healthy order book for professional services. Recurring revenuesfor 2007 are expected to increase over 2006 and further cost benefits areanticipated as customer support requirements are reduced following thesuccessful take up of Sirius 21. Sirius will publish its preliminary results during April. Enquiries Sirius Financial SolutionsStephen Verrall/ Richard Bowser 0121 779 8400 College HillCarl Franklin/ Ben Way 020 7457 2020 Notes to editors: Sirius celebrates two decades of profitable growth as the market-leadingprovider of insurance software solutions. Sirius's end-to-end, internet-basedsolutions significantly improve business control, productivity & efficiency. Andwith over 17,500 users in over 50 countries, Sirius is the solution of choicefor insurance professionals worldwide.s This information is provided by RNS The company news service from the London Stock Exchange