8th May 2007 07:02
SQS Software Quality Systems AG08 May 2007 8 May 2007 SQS Software Quality Systems AG Trading update SQS Software Quality Systems AG (AIM: SQS), the AIM-listed supplier ofindependent software management systems, is pleased to announce strong tradingso far in the year to 31 December 2007. For the year to date, both revenues and profits are in line with managementexpectations for the full year. In the first quarter alone, the company won 55new clients, compared with around 25 wins in the first quarter of 2006 and 100new client wins for the full year. New clients have been won in all key marketsand territories, with notable gains in the financial services and automotivesectors. This success has helped to drive first-quarter organic revenues more than 20%higher than last year, improving on the strong 18% organic growth rate achievedin 2006. By comparison, the European Information Technology Observatory expectsthe European IT services market to grow by less than 6% this year. Furthermore,the first-time impact of the integration of Cresta will generate significantadditional growth in the first half, compared with 2006. SQS has strengthened relationships with existing clients and has securedcontract extensions with most of its customers. The company continues to besuccessful in selling additional services to its existing customer base and newservices - such as Licence Compliancy Management and Application Intelligencefor Security - are already proving popular. Including recent contract wins, the company now serves 36 of the FTSE 100companies. Rudolf van Megen, Chief Executive commented: "The year has begun strongly and I am pleased to report that as expected, ourinvestment in new consultants has had a positive impact on our performance. Theincreasing acceptance of software testing and quality management that isindependent of software development will continue to drive accelerating growthfor SQS. Last week, SQS celebrated its 25th anniversary. I would like to take thisopportunity to thank all the customers and employees who have helped to buildSQS into Europe's leading independent provider of software quality managementand testing services." Notes to editors SQS is the largest independent European provider of software testing and qualitymanagement services. SQS consultants design and oversee quality managementprocesses during software and IT systems development, and test the resultingproducts for errors and omissions. Headquartered in Cologne, Germany, SQS now has operations across Europe and inSouth Africa with more than 800 employees. SQS has a strong presence in Germany(Cologne, Munich, Frankfurt, Stuttgart and Hamburg) and in the UK (London,Woking, Birmingham, Manchester), Ireland, Netherlands, Switzerland, Austria andSouthAfrica. SQS also has a minor stake in an operation in Portugal and apartnership operation in Spain. With more than 4,000 completed projects under its belt, SQS has a strongcustomer base including 36 FTSE-100 companies, half of the DAX 30 and nearly athird of the STOXX-50. It supports clients in a wide range of industries,including major corporations such as Lloyds TSB, Deutsche Telekom, Barclays, BP,Credit Suisse, Daimler Chrysler, and Airbus. For further information please contactSQS Software Quality Systems AG +49 22 03 91 54 0Rudolf van Megen, CEORene Gawron, CFO College Hill Associates Ltd +44 (0) 20 7457 2020Sara MusgraveCarl Franklin This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
SQS Software Quality Systems AG