Mondas anticipates large Blue Curve licensing deal; moves into profit after H1
21 July 2006 | 2243 views | 0
Mondas plc the specialist provider of software solutions to the financial services and education markets, is pleased to announce that it has secured a number of material orders which has resulted in a small profit after interest for the six month period ended 30 June 2006.
All divisions generated contribution.
Evolution Group plc contracted for additional user licences following its acquisition of Williams de Broe plc and extended the term of the existing licence. Ferris Baker Watts, a US investment company, went live with the first delivery of our Application Service Provider (ASP) model of Blue Curve, where the application is delivered over the Internet.
Further orders were secured for licences and professional services from existing users of Radica CAPS. This is in addition to the contracts previously announced with JM Finn and Panmure Gordon in April and May respectively. The Company is currently detecting an increased level of confidence from its financial sector clients across all business areas and this is reflected in the higher level of new business wins and strengthening prospect pipeline.
The Company expects very shortly to sign a contract for the licencing of Blue Curve to one of the world's largest financial services organisations based in the United Kingdom. The contract is expected to contain a significant software licence element as well as the usual professional services and support fees, the majority of which is expected to be recognised in the current financial year.
The Business Systems Division, which specialises in applications within the education sector, has concluded contracts with thirteen new colleges and schools for its Resource 32000 accounting software solution. Increased licence sales, higher recurring revenues and the successful integration of Eclipse Learner Systems substantially benefited the division's profitability.
Commenting, Jarlath McGee, Chief Executive of Mondas said:
"I am pleased with the improved financial performance from all of our divisions and the company as a whole, which has followed on from these important contract wins from both new users and our existing client base. These wins, coupled with a solid pipeline, underlines our belief that the market continues to have a strong appetite for all our products and I look forward to building on this progress during the remainder of this year."