Lombard gains on new liquidity regs
27 May 2010 | 5819 views | 0
Shares in Lombard Risk Management have risen 20% on pipeline deals related to new UK liquidity regulations, despite the company reporting widening losses for the year ending March 2010.
In a trading update, the UK-based provider of risk management software for collateralised trading reports that revenues will be up on last year's £8.7m, but that losses will have widened from £1.3m.
The company says the outlook is "encouragingly positive" with over 20 contracts or orders relating to new liquidity regulations won so far this year, and more orders expected. As at 30 April 2010, the company's order book stood at a record level of £4.4m, compared with a level of around £2.6m on 30 April 2009, a rise of around 70%.
The firm says a landmark £1 million deal won with a top German bank last year has now reached completion and the software has been accepted, with additional work commissioned by the bank concerned.