Focus Solutions posts 20% FY operating profit rise

Focus Solutions posts 20% FY operating profit rise

Focus Solutions, a UK-based provider of customer interaction software, has posted a 20% rise in full year operating profit and sounded a bullish note on plans for international expansion.

Total revenues for the year ended 31 March were up three per cent to £9.85 million with operating profits of £1.92 million. Excluding exceptional charges, profits rose from £1.7 million to £2.3 million.

The firm is bullish about attempts to increase its presence outside of the UK and Ireland after signing a £2.75 million contract with US IT outfit Mastek. Under the deal, Mastek has the rights to distribute Focus Solutions' focus:360 product in North America, Europe and Asia Pacific.

The Mastek deal comes after two years spent developing the focus:360° technology in a bid to change the company's model, relying less on bespoke offerings for a few major customers - notably HSBC.

The company also expects to benefit from the FSA's Retail Distribution Review (RDR) which from 2012 will tighten regulation and oversight of IFAs.

Alastair Taylor, chairman, Focus, says: "focus:360° wealth management has become the system of choice for large IFAs and IFA networks looking to implement technology that will support their business models post the Retail Distribution Review.

Richard Stevenson, CEO, Focus, adds: "We are excited about the opportunities we have moving forward as we look to diversify our products and geographic markets, and also to continue to meet the needs of our clients who are facing significant regulatory changes."

Comments: (0)