17th Feb 2014 10:40
LONDON (Alliance News) - Electronic Data Processing PLC said Monday that it is in a strong position to take advantage of future opportunities including possible acquisitions, as it saw trading conditions remain broadly in line with the previous year.
In a short management statement, the software company said that business confidence remains patchy and as a result many organisations continued to be cautious when it came to IT budgets.
The company said that its contracted recurring revenues have remained strong since the start of October and represented 86% of its turnover, although it did not provide any figures.
It said its cash balances stood at GBP5.6 million on February 14.
Shares in Electronic Data Processing were trading up 2.4% at 84.50 pence Monday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
Copyright © 2014 Alliance News Limited. All Rights Reserved.
Related Shares:
Electronic Data Processing