September 26, 2007
Financial Highlights
- Revenue £2.07m (2006 : £3.43m)
- Loss before Interest and Tax (£0.68m) (2006 : profit £0.72m)
- Adjusted basic loss per share (3.3p) (2006 : earnings per share 4.1p)*
- Cash used £1.10m (2006 : cash generated £1.30m)
* 2006 figure adjusted to IFRS
Business Highlights
- Operating costs reduced to £2.5m (2006 : £2.7m) after non-recurring items of £0.25
- Revenues marginally ahead of expectations and maintained at the same level as H2 2006
- Continued expansion in International markets with sales in three of five target territories; South Africa, the Netherlands and India
- Further £0.12m invested in South Africa and second contract secured with Standard Bank
- Further £0.3m invested in R&D, development of further new software module; eg activity manager, and launched new versions of eg work manager® and eg operational intelligence®
- Software Maintenance Revenues increased by 22%, whilst Software Development revenues increased 30% in the half year compared to full year 2006. Long term software licence commitments secured based on hosted solution
- Appointment of Paul Bird as Finance Director & Company Secretary
Rodney Baker-Bates, Chairman, eg solutions plc said:
“These results reflect our expectations of our performance in this period. Six months ago we began implementing plans to strengthen our fundamentals as a successful software company, to return to profitable growth and re-establish Shareholder confidence. We did not expect to achieve these objectives overnight. However, there are clear signs of recovery across the company and as a result of these activities, the Company is currently trading in-line with the Board’s expectations for the full year”.
Please click here to read the full announcement.
CONTACTS
eg solutions plc
Elizabeth Gooch, Chief Executive Officer
Tel +44 (0) 1785 715772
Golley Slater
Katie Dale
Head of Financial PR
Tel +44 (0) 121 384 9743
Mobile +44 (0) 7918 716 754
