eg solutions plc, the IT software and services company which joined AIM in June this year, announces interim results for the six months ended July 31 2005.
eg uses its own software packages and production management methodology to deliver significant improvements in the operational performance of its clients.
Current operations are focused on the financial services sector with clients that include Norwich Union, Portman Building Society and Co-operative Financial Services.
Half year financial highlights include a turnover up 58.2% to 2.51m (2004: 1.59m); an operating profit of 0.10m (2004: loss 0.15m); adjusted operating profit* increased to 0.57m (2004: 0.05m); earnings per share of 0.7p (2004: loss 1.5p); adjusted earnings per share** of 5.2p (2004: 0.5p). No interim dividend has been recommended.
Key Business Highlights include contracts finalised with Portman Building Society and Co-operative Financial Services; staff numbers up from 30 at year end to 50; structuring of sales function; investment in product development for roll out early next year; and development of a partnership model.
Elizabeth Gooch, managing director, eg solutions says: This is a good start to the year which fully supports our confidence in the business when we came to market earlier in the year. We have also made good progress in the Companys strategic development, making the first steps into the public sector and to broadening our historically strong financial services business into geographies outside the UK. We are investing in people and product development which will underpin the Companys long term growth. In the immediate future, the sales pipeline for new business remains strong.