eg solutions plc (“eg solutions” or “the Company”; LSE-AIM: EGS), the back office optimisation software company, announces its unaudited results for the year ended 31 January 2011.
Financial Highlights:
- Revenue up 21% to £5.1m (2010: £4.2m)
- Profit before tax and costs relating to the XTAQ acquisition* up 400% to £0.5m (2010: £0.1m)
- Positive cash generation – year-end cash: £0.5m (2010: £0.4m)
- Basic Earnings Per Share 3.7p (2010: 0.7p)
- £0.6m invested in R&D (2010: £0.6m)
* Costs relating to the XTAQ acquisition comprises £96,000 (2010: nil) consisting of £67,000 professional services costs and £29,000 management costs.
Operational Highlights:
- Good flow of new orders from existing and new customers
- Acquisition of XTAQ Limited fully integrated and pipeline converted, as planned, with £1.1m closed sales
- Significant increase in South African revenues
- Winner of Birmingham Post International trade & export award
- ICT certification from Accredit UK, recognising high standard of software product design and development
On Current Trading and Outlook, Rodney Baker-Bates, non-executive Chairman stated:
“The momentum of last year has continued. We have a strong sales pipeline and expect to continue to win new contracts from existing and new customers, as well as benefiting during 2011/12 from contracts won last year.
“Current trading is positive, with contracted and recurring revenues accounting for 54 per cent of our expected revenues for the year (2010: 52 per cent).
“The Board plans to build on this success and we are confident that the Company will achieve further profitable growth in the coming year.”
Contacts
eg solutions plc
Elizabeth Gooch, Chief Executive Officer – 01785-715772
Bankside
Simon Bloomfield – 020-7367-8888
Arbuthnot Securities Limited
Tom Griffiths – 020-7012-2000
About eg solutions plc
eg solutions plc is a global back office optimisation software company. Our software provides historic, real-time and predictive Operational MI. When implemented with our training programme for managers and team leaders to use this intelligence, we guarantee improvements in operational results in short timescales.
The Company, which is listed on the Alternative Investment Market (‘AIM’) of the London Stock Exchange, is committed to customer satisfaction and the ongoing development of its operations management solutions.