17 October 2017
visit www.response.ncr.com

Lombard Risk Management posts FY results

09 September 2010  |  4083 views  |  0 Source: Lombard Risk Management

Lombard Risk Management (AIM: LRM), the global provider of specialised software solutions that improve the management and reporting of collateralised trading, liquidity and regulatory compliance, announces Final Results for the year ended 31 March 2010.


Financial results for the year ended 31 March 2010 prepared under International Financial Reporting Standards ("IFRS") as adopted by the European Union.

· Revenue 3% up on same period last year at £8.95m (2009: £8.69m)

· Profitability achieved by Risk and Trading division, with both COLLINE Collateral Management software and Oberon achieving profitability

· More contract wins for COLLINE and acceptance of the software by a Tier 1 Continental European bank

· Multiple contract wins from UK regulatory business driven by Liquidity Standards regulation announced by FSA in October 2009 with most of the revenue from these to be earned in year ending 31 March 2011

· Loss before interest and tax of £1.3 m before one off charge relating to prior year bad debts (2009: £1.1m)

· Fund-raising completed in October 2009 resulting in strengthened Balance Sheet. Cash at year end £0.70m and no debt of any kind (2009: £0.15m cash and director loans of £1.33m)


· Strong start to trading in new financial year with over 30% like for like revenue growth, and profitability achieved in both the company's divisions in the first 4 months of year ending 31 March 2011

· Risk & Trading Division - Ongoing demand for COLLINE: COLLINE collateral management software has gone live at a high profile Tier 1 Continental European bank, proving the product's ability to deal with high volume international banks as well as medium sized and smaller clients. In addition, demand continues by banks and asset managers for collateral management products

· Regulatory Compliance Division: Revenue from Liquidity Standards regulations that come into effect by November 2010 proving to be a very positive for the Company's Regulatory Compliance division. The Company can expe division. The Company can expect to continue to benefit from further changes away from "light touch" regulation.


· Expected revenues from other new products in 2011

Read the full statement here.

Comments: (0)

Comment on this story (membership required)

Related company news


Related blogs

Create a blog about this story (membership required)
visit www.innotribe.comRegister nowvisit www.capgemini.com

Top topics

Most viewed Most shared
Ripple looks to drive bank adoption with $300m XRP rebate programmeRipple looks to drive bank adoption with $...
14753 views comments | 12 tweets | 3 linkedin
Swift positive on blockchain, but big challenges remainSwift positive on blockchain, but big chal...
8122 views comments | 15 tweets | 21 linkedin
hands typing furiouslyHow artificial intelligence can deliver a...
7378 views 0 | 7 tweets | 9 linkedin
satelliteGates Foundation backs Ripple collaboratio...
6706 views comments | 13 tweets | 7 linkedin
Ex-PayPal boss Thompson backs Canadian fintech Payment RailsEx-PayPal boss Thompson backs Canadian fin...
6060 views comments | 10 tweets | 12 linkedin

Featured job

to £70K base, £105K ote, benefits
London, UK

Find your next job