11th Dec 2007 16:05
Rubicon Software Group PLC11 December 2007 FOR IMMEDIATE RELEASE 11 December 2007 Rubicon Software Group plc (or "the Company") Trading Statement In the 2007 final results' announcement on September 26th, reference was madeto market uncertainty within the sub-prime loans sector but, at that time, itwas too early to assess the impact that this might have on the Company's financial performance. As a result of the "credit crunch", two key prospects are now not proceedingwith major projects in January as planned. Consequently, revenues for thecurrent financial year to June 2008 will fall substantially below expectations. In addition, tightening credit availability and stricter lending criteria areadversely affecting both current clients and future prospects; hence, tradingis expected to remain difficult in the short term. Nevertheless, the Board continues to believe that our product generatesexceptional operational efficiencies and that there will be demand from thosebusinesses seeking competitive differentiation when market conditions improve. For further information, please contact: Rubicon Software Group PLC Tel: 01276 706900Alistair Hancock, Chief Executive Officer www.rubiconsoftware.com W.H. Ireland Tel: 0121 265 6300Tim Cofman/Katy Birkin Bankside ConsultantsSue Scott/Louise Davis Tel: 020 7367 8888 ENDS This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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