Kalahari posts record revenue
25 November 2008 | 1780 views | 0
Kalahari, a global provider of real-time price discovery, analytics and publishing solutions, is delighted to report record results for the full fiscal year ended 31 July 2008, including its highest-ever annual revenues, making it another solid year of business performance.
For the full fiscal year, revenue was up by 14 percent over the same period in 2007 for the privately held company. In addition, the company has invested a further £450,000 in sterling in 2008 on the development of its next generation software kACE2, which was successfully debuted at the ACI World Forex Vienna in May 2008.
Highlights for 2008:
Substantial investment in the next generation software kACE2.
Continued development of the relationship with the FTSE Index Company which will shortly see Kalahari's new kACE2 software power the entire FTSE indices.
Substantial additional and exclusive contract with influential customer for the production of bespoke pricing for emerging market currencies.
Commenting on the results, Graham Mansfield, managing director said, "Kalahari has delivered another excellent year's performance reaching new levels of profitability and increased levels of new business. I am extremely pleased with our ongoing momentum and our success is attributable to strength in our core markets."
"The significant investment that was made during 2007 has born fruit in 2008 with a considerable increase in revenue and the successful debut of our new kACE2 software. Kalahari is a profitable, cash generative business well able to capitalise on its strong presence in the global money and foreign exchange markets." He continued.