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Mondas posts trading update

30 June 2006  |  1315 views  |  0 Source: Mondas

Mondas PLC, the specialist provider of software solutions to the banking & securities and education markets, announces its preliminary results for the 8 month transition period ended 31 December 2005 and updates the group's trading position for an additional 2 months following the announcement of the Company's interim results (6 months to 31 October 2005) on 22 December 2005.

Update since interim results

  • Trading in 2 months to December 31 2005 in line with market expectations.
  • Revenue for 8 months period £2.09 million and loss before taxation of £1.45 million.
  • Extended product range and critical mass through acquisition of Eclipse Learner Systems Limited (Eclipse) and Blue Curve Limited (Blue Curve).
  • Expanded product portfolio expected to add significant revenues in 2006 and 2007
  • Eclipse and Blue Curve integration successful - benefits of cost savings in 2006.
  • End of the transition period completes substantial re-structuring.

2006 to date

  • Improving trading conditions within financial services.
  • New names in both financial markets product sets including JM Finn, Panmure Gordon, Ferris Baker Watts and Brewin Dolphin
  • International sales opportunities have yielded early results which demonstrates the global appeal of our products.
  • Growing pipeline and reducing sales cycles.

Peter Waller, Chairman, said:

"This marks the end of a turbulent episode in Mondas's history. We have made considerable progress in re-structuring the business, and the two acquisitions have now been successfully integrated into the company, giving us the opportunity to capitalise on the strong market place in both of the sectors in which we operate. Following our recent contract wins from our key products in financial markets, we feel confident of further progress in the current year."

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