18 February 2018
visit www.ebaday.com

SimCorp on track for 2002 financial forecasts

07 May 2002  |  2387 views  |  0 SimCorp on track for 2002 financial forecasts

Danish portfolio and treasury software vendor, SimCorp, has reported consolidated revenues of DKK99 million - approximately $12 million - for the first quarter of 2002. Although down 15 per cent from Q1 2001, this performance is in line with the company's forecasts.

SimCorp generated a loss from primary activities of DKK23.5 million in Q1 2002 - including non-recurring costs of just over DKK6 million - against a profit of DKK11.9 million in the same period of 2001.

On a positive note, the group believes that conditions in the investment management market for its TMS2000 product have improved noticeably and has therefore has maintained its full-year revenue and profit forecast. In contrast the market among large corporates for the company's treasury management solution, IT/2, is still regarded as 'slow'.

Within the quarter a significant new deal was signed with Dutch portfolio managers, Mn Services. Other licence wins were to add new functionality or additional workstations at existing customer sites.

Due to changes in accounting policies, expected EBIT is increased by DKK5 million. For 2002, the Group expects to generate total revenues in the range of DKK550 million to DKK600 million and a profit from primary activities (EBIT) in the range of DKK55 million to DKK80 million.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Omgeo recruits twelve new CTM early adopters

Omgeo recruits twelve new CTM early adopters

29 April 2002  |  3586 views  |  0 comments
SimCorp joins Omgeo STP Partners programme

SimCorp joins Omgeo STP Partners programme

19 March 2002  |  3084 views  |  0 comments

Related company news


Related blogs

Create a blog about this story (membership required)
visit http://info.nice.comvisit www.nextgenbanking.co.ukvisit www.ebaday.com

Who is commenting?

Top topics

Most viewed Most shared
Saudi central bank provides sandbox for banks to try out Ripple techSaudi central bank provides sandbox for ba...
10468 views comments | 16 tweets | 11 linkedin
Aussie real-time payments platform goes liveAussie real-time payments platform goes li...
8256 views comments | 15 tweets | 41 linkedin
ECB launches staunch defence of cashECB launches staunch defence of cash
7744 views 10 comments | 21 tweets | 26 linkedin
hands typing furiouslyHow can Blockchain Help with AML KYC
7617 views 3 | 9 tweets | 4 linkedin

Featured job

Six-Figure-Base, Double OTE, Benefits Package
London, UK

Find your next job