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FIN / Announcements

FY12 Financial Forecast

9:37am, 15 Apr 2011 | FORECAST

The Directors of Finzsoft Solutions advise that the company’s expected performance for next year, the year ending 31 March 2012, is forecast to be less than that indicated for the year ended 31 March 2011.

Whilst still to finalise the year ended 31st March 2011 financial results, the Directors have approved a substantially increased investment in the following areas, for which the returns are not forecast to be realised in the year ended 31st March 2012:

- Expanding our sales and marketing investment in the Asian market to work strategically with our global partner HCL. HCL has many top tier banking and finance clients, which we believe can consume our Finzsoft products and services.
- Invest greater funds and resources in developing the next generation of Sovereign finance and banking software.
- Invest greater funds to grow our sales and marketing teams, particularly in key international growth markets.
- Develop further the product offering for our joint venture entry into the USA and Canada markets. This builds on the early success with this venture, which offers a cloud deployed bureau service for SME financial institutions.

The investment in the above areas is necessary to position the company for future growth in international markets.

The Directors
Finzsoft Solutions Limited
15 April 2011