ITRS Group, the leading provider of management and monitoring solutions to the world's financial community, has announced a set of outstanding preliminary results for 2008.
Turnover of the privately held company has continued to increase achieving a year-on-year growth of 65%. The EBDTA (Earnings before Interest, Taxes, Depreciation, and Amortisation) are equally impressive, showing an increase of 95% year-on-year.
ITRS is a British technology success story: it specialises in predictive and proactive management of critical, real-time applications and monitoring of banks' worldwide technology infrastructures. Customers particularly value the ability of ITRS Geneos to show the complete operating environment rather than disparate applications as well as its versatile and flexible dashboard facility that instantly displays the status and performance of trading room, risk management and settlement systems and exchange feeds anywhere in the world. ITRS is the only company that supplies a highly sophisticated management product specifically designed for the needs of financial institutions.
ITRS began trading in 1997 and has headquarters in London with regional offices in New York and Hong Kong. It has always been highly focused on a strategy of customer and business-led product development combining this with unusually high levels of support and responsiveness. This 'customer first' approach to business has resulted in an exceptionally loyal customer base. Clients include 8 of the 10 largest banks and 30 of the top 50 biggest financial institutions in the world.
Stephen Bates, ITRS managing director, says: "I am delighted with our results; they are a clear reflection of the quality and expertise of the staff we are fortunate to have in the company. We continue to be very successful in Europe and North America and part of our growth strategy is now to strengthen our presence in Asia. Globally we are seeing an increased demand for our technology due to the growing pressure from governments and regulators to focus on minimising operational, business and reputational risks and the need for greater compliance. These pressures, coupled with competition between financial institutions, reinforce the need for products such as ITRS Geneos. This plays to our strengths as we continue to support our clients in the management of their critical environments."