City Networks reports fourth consecutive year of growth

City Networks reports fourth consecutive year of growth

UK treasury, securities and derivatives software house City Networks is reporting a fourth consecutive year of growth, with revenues of $21.8 million and $4 million operating profit for the year ending June 2003.

The latest results contribute to a CAGR between 2000 and 2003 of 8% and 16% for revenue and operating profit growth respectively, says Costa Christodoulou, CEO at City Networks.

The year included sales and implementations at Bank of Tokyo-Mitsubishi, Commonwealth Bank of Australia, Credit Lyonnais, Fortis Clearing, HBOS, HVB Group, Lloyds TSB, Raiffeisenbank, Schroders Private Bank and SG Corporate and Investment Bank.

For the coming year, the privately-held, 18-year old company intends to invest in fresh initiatives supporting real-time cash and exposure management in the wholesale payments markets, and offer new releases in trader notifications, electronic trading integration and financial messaging.

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