SimCorp doubles Q2 losses

SimCorp doubles Q2 losses

Treasury management systems supplier SimCorp has more than doubled losses for the second quarter 2002 to Dkr17.7m, against Dkr8 million in Q2 2001, including non-recurring costs of just over Dkr5m.

The Danish vendor says its sales pipeline is still performing satisfactorily, but the group's interim results depend on the timing of the expected order inflow. Most of this year's order intake is expected to be generated in the second half of the year. 2

SimCorp generated consolidated revenues of Dkr104m in the second quarter of 2002, a 5% improvement on Q1 2002 revenues but a 7% drop compared with Q2 2001.

The company maintains its full-year revenue and profit forecasts: consolidated revenues in the range of Dkr550m to Dkr600m and a profit from primary activities in the range of Dkr55m to Dkr80m.

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