AFA Systems points to sales slow down

AFA Systems points to sales slow down

AFA Systems, the TechMark listed provider of treasury and investment management software, is reporting a slow down in sales as major prospects delay projects into 2002.

"In a difficult year, we expect sales growth for the full year of approximately 90% compared to the year ended 31 December 2000," says the company in a trading update.

This figure includes the benefits of acquisitions. On a like for like basis, AFA says the group is likely to show a sales increase of some 15% on last year.

The market is showing signs of revival, says AFA, pointing to a significant order for one of Smacsoft's AIMS products, Interlink, with a substantial UK pensions institution. Full details will be made available when the contract is signed says the vendor.

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