12th Oct 2007 07:00
Focus Solutions Group PLC12 October 2007 Embargoed until 0700 12 October 2007 Focus Solutions Group plc ('Focus') Trading Update Focus Solutions Group plc (AIM: FSG), a leading supplier of adaptive softwaresolutions to the financial services industry, today issues a trading update forthe six months ended 30 September 2007. For the first time, Focus has traded profitably in the first half of the year.The business has performed strongly, continuing to make good progress in linewith our plans. Both turnover and profitability are expected to be significantlyahead of the corresponding period in 2006 with sales revenues increased by atleast 35% to over £4 million. At the operating level, we have generated a profitbefore exceptional costs, as compared to a loss of £0.3 million last year whichreflects the considerable improvements we have made to the business over thelast two years. Overall, the first half performance is consistent with marketexpectations for the year as a whole. Strong trading has been underpinned by a number of new contract extensionssigned with HSBC Bank plc and Openwork Limited during the period and the signingof a strategic partnership with Oracle. We continue to make progress with refining the business model in order to reduceFocus' dependence on professional services revenues in future. This developmentin turn will strengthen the quality of revenues and earnings as the percentageof software license to service income increases. Focus intends to announce its interim results for the six months ended 30September 2007 in early December 2007. Richard Stevenson, CEO of Focus commented: "We are very pleased with the progress made during the first half of the year,particularly the move into profitability which was achieved for the first timeat the interim stage. We continue to strengthen our customer relationships whichwill help underpin the organic growth opportunities for Focus, whilst at thesame time actively exploring acquisitions which will develop our offering in ourcore markets further." Enquiries: Focus Solutions Group 01926 468 300Richard Stevenson, CEO / Martin Clements CFO Seymour Pierce 020 7107 8000Mark Percy Smithfield 020 7903 0641Tania Wild Notes to editors: Focus is an established supplier of easily configured & re-usable componentbased software & business services, which enable faster, more effective & costefficient processing of complex customer transactions. Focus has helped some of the world's leading public & private sectororganisations to successfully automate their most demanding customer processes.For further information on Focus, please visit www.focus-solutions.co.uk This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Foresight Group Holdings