AFA Systems points to sales slow down
21 December 2001 | 834 views | 0
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.