Tue 28 July 13:23:13 NZST

FIN / Announcements

Anticipated annual results

5:18pm, 31 Mar 2011 | FORECAST

The Directors of Finzsoft Solutions are pleased to report on the company’s performance for the year ended 31 March 2011. The results for the second six months have remained flat, but the results for the year are a positive improvement on the last financial year.

Although not yet completed, the Directors forecast the company’s result for the year ended 31 March 2011 to be a profit after tax in the range of $360,000 to $460,000. This compares with a profit after tax for the same period last year of $272,000.

Some of the highlights for the FY11 financial year include:

- A large proportion of our revenue is now coming from international markets.
- We have signed a global partnership with HCL. HCL is a global leading systems integrator with over 79,000 employees and greater than $5.9B in annual revenue. HCL has many top tier banking and finance clients, which we believe can consume our Finzsoft products and services.
- Our joint venture entry into the USA and Canada markets with NFS is showing early signs of success, with a cloud deployed bureau service for SME financial institutions.
- Other new market opportunities are showing promising signs of growth for the future and Finzsoft expects to see a return on that investment in the next financial year.
- Finzsoft continues to make good progress in developing the next generation Sovereign finance and banking software, funded from operating cashflow.
- Consolidation activities within the New Zealand market will see the Finzsoft product operating within strong financial institutions. We retain a dominant market position, by book value, in the New Zealand market.

The Directors
Finzsoft Solutions Limited
31 March 2011