Financial Objects is reporting an "encouraging" start to the current financial year, with first quarter results ahead of budget.
The UK-based banking systems vendor says it is confident of meeting its financial targets for the year as the improvement in trading continues into the second quarter.
Financial Objects has moved to shake up its business model this year, after reporting a 19% fall in revenues and widening operating losses for the year ending 31 December 2003.
In a trading statement issued after its AGM today, the vendor states that the overseas development centre in India is already proving a success, producing quantifiable results, while "good progress" is continuing to be made with the partner reseller programme.
The firm has also appointed Paul Fullager to its board as a non-executive director. Fullager, a former chairman of Staffware and current senior non-executive director of Marlborough Stirling, effectively bought a seat on the board when he nearly doubled his stake in the firm to 10% with a purchase of 1.1 million shares in February.