LONDON (ShareCast) - Financial services software supplier Focus Solutions revealed a 27% hike in annual pre-tax profit following increased demand for its services.
"The new financial year has started well and trading remains in line with
management expectations," said Focus in a company statement despite tough conditions for financial services companies.
Pre-tax profit rose to £1.78m for the year ended 31 March 2009 from £1.40 m the year earlier on sales revenue of £9.60m compared with £8.60m before. EBITDA before exceptional costs rose 26% to £2.01m.
"We are building a solid pipeline of opportunities and following the recent RDR regulatory proposals, we are seeing increased demand for our solutions despite tough market conditions," said chairman Alastair Taylor.
Focus said while it continues to focus on sales in the UK and Ireland, it is also exploring opportunities elsewhere and said it was interested in expanding the business by partnerships, joint ventures and acquisitions.
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