Financial Highlights
- Revenues up 3% to £7.04m (H1 08/09: £6.83m)
- SaaS revenues up 27% to £5.11m (H1 08/09: £4.02m)
- 12 month SaaS Order Book stands at £10.51m (H1 08/09: £8.95m)
- Gross Profit up 17% to £5.86m (H1 08/09: £5.01m)
- Benefits of cost efficiencies being felt across the business
- Operating profit up to £0.5m (H1 08/09: loss of £0.4m)
- Strong cash position: £3.1m at 30 September 2009 (£2.2m at 31 March 2009)
- Excellent operating cash conversion before investment in core infrastructure and Asia
Operational Highlights
- Notable new client wins across the front, middle and back offices, including, Prudential Bache, Liquid Capital, Mako, Ignis and SVS
- Continued investment in product development, in particular in our middle office solutions
- Phase One of the Asia expansion completed, linking our London and Chicago data centres to the Far East
Commenting on the results Keith Todd, Executive Chairman of FFastFill said: “I am pleased to be able to report a robust performance in the half year to 30 September 2009. This performance was delivered in a market recovering from the financial storms of 2008 and resulted from the strength of our SaaS business model and the effect of the cost saving that we delivered. With renewed stability and confidence returning to our markets, we are cautiously optimistic that will be able to continue to grow strongly.”
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