13th Jul 2020 09:10
(Alliance News) - Alfa Financial Software Holdings PLC on Monday said trading in the first half of 2020 has been better than expected with a "largely resilient" demand despite the Covid-19 pandemic.
The company, which develops software for the asset finance industry, added that the impact of remote working has had little impact on operations, other than fewer holidays being taken than normal, and as a consequence an increase in the number of days work were delivered to clients.
Cash performance in the six months to June 30 remained strong, with net cash increasing in the period, further strengthening the balance sheet.
For the second half, the company "continues to be wary" of the potential for disruption to current work schedule and future prospects from changes in client's priorities and plans.
Alfa Financial remains "cautiously optimistic" for the outlook of the business as it sees some reduction in new client projects as a result of the Covid-19 pandemic, which could also impact the company's trading in 2021.
Shares in the company were up 18% at 74.30 pence each in London on Monday morning.
By Tapan Panchal; [email protected]
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