SVR.L Regulatory News (SVR)

11 Jan 2006 07:00

SERVICEPOWER TECHNOLOGIES PLC ("SERVICEPOWER" OR THE "Company") Company reports revenue growth, reduction in losses and significant new customers ServicePower, the recognised market leader in artificial intelligence based,field service scheduling solutions and computer services, today provided thefollowing trading update for the twelve months ended 31st December 2005. ThePreliminary Results will be announced in accordance with ServicePower's normaltimetable at the end of March. The actual date will be announced in due course.Highlights * Expected revenue of over ‚£8.0m (2004: ‚£4.1m) * Trading losses substantially reduced * 250% increase in licence sales year on year During the year, the Company has made progress in all areas of the businesswhich is reflected in a significant improvement in financial performance.Revenue for the year to 31st December 2005 is expected to exceed ‚£8.0 million(2004 ‚£4.1 million) with the loss for the year reducing substantially from2004. Moreover, this has been achieved whilst continuing to place substantialinvestment in the FSS business including the recruitment of 23 staff.Transaction volumes and revenues of the FSS business have increased greatlyboth from the US customer contracts which were signed in 2004 and in the secondhalf of 2005 from the new FSS business in Europe. 2006 should see this trendcontinue when the majority of our new customers will make a contribution torevenues. There has also been a significant improvement in the SERVICEPowersoftware business which saw licence sales increase by 250% compared to lastyear and the division trade profitably.With good visibility in 2006 from existing contracts, the Directors haveconfidence in continuing the revenue growth and improved performance of thebusiness.Note: ServicePower refers to the company and SERVICEPower refers to theproduct.11th January 2006----------------------------------------------------------------------------------------------------------Contacts:David Brisco, Chief Executive Officer Tel: 0161 476 2277Barry Welck, Non-executive Chairman Tel: 07831 396539ServicePower Technologies PLCMichael Brennan, Bobbie Hilliam Tel: 020 7071 4300Evolution Securities LimitedTom Moriarty Tel: 020 7651 8688 / 07802 442486ICIS LimitedENDSERVICEPOWER TECHNOLOGIES PLC