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Lombard Risk Management posts preliminary results

05 July 2006  |  1965 views  |  0 Source: Lombard Risk Management

Lombard Risk Management plc, a leading risk management, valuation and regulatory reporting software company, has today announced its preliminary results for the year to 31 March 2006.

Commenting on the results, John Wisbey, Chairman and Chief Executive said: "This was a transformational year which saw us lay the ground for a real advance in the business. Revenues in the first 3 months of the new financial year have been stronger than any other quarter in the company's history with the Colline collateral management software and the STB-Reporter regulatory reporting software making particularly strong headway."

Highlights

Year of significant advancement including:

  • Heavy investment in the Shanghai operation and in R&D for Colline and other products
  • Acquisition of STB Systems Ltd in August 2005 which brought market leadership for UK bank regulatory reporting software
  • Excellent start to the 2007 financial year with record quarterly revenues of approximately £2.0m achieved in the June quarter
  • Results for the 2006 financial year in line with market expectations based on announcement of 24 April 2006
  • Profit before tax £3.22m, following the gain of £5.97m on ValuSpread disposal (2005: loss £1.13m)
  • Turnover up 1.7% to £4.70m (2005: £4.62m)
  • Net cash and marketable securities £2.3m (2005: £0.9m)
  • Strong outlook for revenues and promising outlook for cost savings as the Shanghai operation moves forward

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