Half yearly results for the six months ended 31 July 2009

eg solutions plc (“eg solutions” or “the Company”; LSE-AIM: EGS), the operations management software company, is pleased to announce its unaudited half yearly results for the six months ended 31 July 2009.

Key points:

• Revenue was £2.09 million (H1, 2008: £2.27 million).

• Gross margins improved to 63.1% in the first half, up from 50.6% for the year to 31 January 2009.

• Profit before tax was £56,000 (H1, 2008: £53,000), representing a turn round after a pre-tax loss of £0.81 million in the second half of last year.

• Tight cash management resulted in cash balances of £0.59 million at 31 July 2009, up from £0.26 million as at 31 January 2009.

• Contract wins with key clients in UK and international markets included Nationwide Building Society, a major UK life and pensions company and one of the largest bancassurance groups in the Nordic region.

On Outlook, Rodney Baker-Bates, non-executive Chairman stated:

“After the turmoil of past months, there is evidence that our financial services client basis is gradually returning to ‘business as usual’ in operational terms.  Assisted by a number of contract wins during the first half of the year, the Board’s expectations for the year as a whole are underpinned by having over 80% of anticipated revenues for the year to 31 January 2010 already under contract.

“We have recently completed some detailed market studies which confirm the potential for growth in our market.  Our main task for the remainder of the year is to build on the achievements of the half year and create a platform for a return to growth next year and beyond.”

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-ENDS-

CONTACTS

eg solutions plc
Elizabeth Gooch, Chief Executive Officer
Today: Tel +44 (0) 20 7367 8888
Thereafter: Tel + (0) 1785 715772

Bankside
Steve Liebmann, Simon Bloomfield or Andy Harris
Tel +(0) 207 367 8888

Brewin Dolphin Ltd (Nominated Adviser)
Mark Brady, Director Corporate Finance
Tel +44 (0) 845 213 4748