Financial Objects back in black on strong sales

Source: Financial Objects

Financial Objects plc, an international supplier of software solutions for the banking, wealth management and energy sectors, reports strong growth in revenue and profit for the six months to 30 June 2006.

Highlights for the six months ended June 2006:

  • Organic sales growth of 20%
  • Successful acquisition and integration of Raft International plc
  • Significant number of new client wins across all key divisions
  • Recurring support revenue now represents 40% of total revenue
  • Strong pipeline of sales prospects
  • Order book stands at £13.5 million, £11.0 million excluding Raft International plc (December 2005: £10.4 million)

Commenting on the results, Roger Foster, Chairman and Chief Executive Officer, said: "In March we outlined our strategy of driving earnings growth by increasing organic revenues, margin improvement and selected acquisitions. In the first six months of the year we have seen good progress across all of these targets, as reflected by the increase in earnings per share. I am optimistic that we can continue this momentum and consolidate our position in the market."

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