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Financial Objects in line for H1

15 July 2005  |  4553 views  |  0 Financial Objects

UK banking systems vendor Financial Objects is reporting first half trading in line with expectations despite "continuing difficult trading conditions".

In a brief trading update, Financial Objects says progress has been made during the first half of the year in upgrading existing clients to its Ibis/S2 platform.

The integration of the Wealth Management Software business acquired in the first half in proceeding as planned, although the full impact of cost savings from the acquisition won't, as expected, be realised until next year.

Financial Objects says the transfer of software development to its centre in Bangalore is on course and expected to be completed by the end of the year.

The vendor's shares had moved up a penny to 38.50 pence by mid-day.

The company recently said it will transfer its listing from the London Stock Exchange's Official List to the junior market AIM in a bid to cut costs and improve investment opportunities.

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