19th Jan 2009 07:00
19 January 2009
SQS Software Quality Systems AG
("SQS" or the "Company")
Trading Update
SQS Software Quality Systems AG (AIM:SQS.L), the global leader in independent software testing and quality management services, is pleased to provide an update on trading for the year ended 31 December 2008.
The Company is pleased to report that its businesses progressed strongly throughout the year and that it is confident that its full year results will be in line with current market expectations.
During the year, SQS continued to execute its strategy of extending its reach into Europe and expanding its off-shoring capabilities. The successful acquisition of Validate, a Swedish company with additional operations in Finland and Norway, gave SQS a presence in the Nordic countries and the acquisition of Verisoft in India is a significant addition to the Company's off-shoring facilities.
The formation of a further off-shore centre in Egypt has expanded the Company's multi-language (80% with German speaking skills, 20% with French), multi-time-zone offering. This is of prime importance to multinational companies and is helping SQS to secure longer term contracts, which in turn has improved visibility. The cost savings available to clients from blended off-shoring solutions are also highly attractive to businesses in the current economic climate.
SQS signed a record 175 new customers during 2008 (2007:155 new clients). The Company's offering is by nature sector independent and these customer wins covered a very healthy spread of distinct verticals (27 in total). These included sectors as diverse as insurance, government & public, telecoms, legal and healthcare and offer further demonstration of the Company's strong market positioning and robust, defensive qualities.
The Company expects to announce it results for the year ended 31 December 2008 on 10 March 2009.
Rudolf van Megen, Chief Executive Officer of SQS commented, "2008 was an excellent year for SQS. We made a number of important and successful acquisitions and we have expanded our position as the established market leader in independent software testing. We also significantly grew revenues and profits. As we enter 2009 trading conditions remain healthy and, looking forward, as companies look ever more closely into outsourcing their IT functions to reduce costs, we expect a continuing strong performance. We look forward to the remainder of the year with confidence."
Enquiries:
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SQS Software Quality Systems AG |
Tel. +49 (2203) 91 54 0 |
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Rudolf van Megen, Chief Executive Officer |
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Rene Gawron, Chief Financial Officer |
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Altium |
Tel. +44 (0)20 7484 4040 |
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Tim Richardson |
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Katie Hobbs |
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ICIS Limited |
Tel. +44 (0)20 7651 8688 |
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Tom Moriarty |
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Bob Huxford |
About SQS
SQS is the global leader in independent software testing and quality management services. SQS consultants design and oversee quality management processes during software and IT systems development and test the resulting products for errors and omissions.
Headquartered in Cologne, Germany, SQS now has more than 1,400 employees across Europe, Asia, North America and Africa. The Group has a strong presence in Germany (Cologne, Munich, Frankfurt, Stuttgart, Goerlitz and Hamburg) and in the UK (London, Woking, Birmingham, Manchester, Belfast), Ireland, the Netherlands, Switzerland, Austria, Sweden, Norway, Finland, India, Egypt, the United States and South Africa. SQS also has a minor stake in an operation in Portugal and a partnership operation in Spain.
With more than 4,800 completed projects, SQS has a strong customer base including 36 FTSE-100 companies, half of the DAX 30 and nearly a third of the STOXX-50. It supports clients in a wide range of industries, including major corporations such as Deutsche Bank, Deutsche Telekom, Barclays, BP, Boots, Credit Suisse, Volkswagen, and Daimler.
www.sqs-group.com
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