FIN 0.00% $1.13 finzsoft solutions limited

Ann: FLLYR: FIN: Finzsoft FY14 Annual Results

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    					FIN
    30/05/2014 16:23
    FLLYR
    
    REL: 1623 HRS Finzsoft Solutions Limited
    
    FLLYR: FIN: Finzsoft FY14 Annual Results
    
    30 May 2014
    
    Announcement
    
    FINZSOFT SOLUTIONS CHAIRMAN AND MANAGING DIRECTOR'S REPORT
    
    FY14 Full Year Highlights
    
    Finzsoft has performed strongly for the year ended 31 March 2014, with:
    1. An increase in Total Revenue of 7 percent to NZ$9.421 million;
    2. An increase in Net Profit after Tax of 88 percent;
    3. The delivery of our next generation integrated and platform independent
    mobile commerce solutions;
    in comparison with the financial year ended 31 March 2013.
    
    Finzsoft's performance was achieved against the backdrop of:
    
    A full takeover offer launched by Holliday Group Holdings (ICT Investments)
    Limited in the third quarter;
    - A change in leadership;
    - Continuing our investment of approximately 40% of staff productive hours
    into internally sponsored Research and Development continuing our commitment
    to future growth; and
    - The announcement that Finzsoft had received the first material work orders
    from long-term client, St George Bank in Australia to assist with the
    integration of the Auto and Equipment Finance business of Capital Finance
    Australia Limited (CFAL) acquired from the Lloyds Banking Group Australia.
    
    Strategic Focus
    
    Finzsoft remains committed to its mission to provide innovative,
    transformational, scalable products and services. Our Sovereign banking and
    finance software and solutions are enabling technology that drives behaviour
    and empowers our customers. The strengths of the solution are its security,
    auditability, stability, flexibility and scalability.  Its rich functionality
    dramatically improves effectiveness and efficiency through automated and
    paperless processes.
    
    FY15 and Beyond
    
    Finzsoft Managing Director, Andrew Holliday reconfirmed the company's
    strategy of focusing on known revenue opportunities in Australia and New
    Zealand and tightly managing costs, whilst continuing with investment in
    research and development and growth opportunities in the Asean region.
    
    "To remain a market leader in banking software, Finzsoft continues to invest
    heavily in research and development of its Sovereign banking software to
    provide our customers and their customers with the latest financial
    technology."
    
    FY15 will see Finzsoft continue to actively engage and participate with
    existing and new customers to:
    
    - Leverage our established and proven banking and finance technology by way
    of vertical integration within and horizontal integration across customers'
    business lines;
    - Leveraging our current state and future state new generation modules
    including our mobile commerce suite of products as part of our 'mBank'
    solution.  This technology enables our clients to respond to the key current
    disruptive trends in banking O2O (Online to Offline), IoT (Internet of
    Things) and Customer Centricity and to take advantage of the growth
    opportunities in both the Pre-arranged, Direct and POS customer engagement
    models; and
    - Provide multi-channnel deployment, service and delivery models including
    both proven On-premise licence, hosted, SaaS and private Cloud models.
    
    Finzsoft is proud to continue its tradition of thought and technology
    leadership in developing Future Banking Solutions.
    
    Capital Structure
    
    In order for the Group to meet its' product development and market expansion
    plans, the Board has resolved it may require a change in Finzsoft's capital
    structure. To this end, Directors are committed to a plan to materially
    increase the Company's shareholder base, increase liquidity whilst continuing
    to examine options including a combination of new equity and debt.  The Board
    has the full support of the Company's majority shareholder to execute these
    initiatives.
    
    Dividend
    
    The Directors have resolved not to pay a final dividend to shareholders at
    this time.
    
    Finzsoft has offices in Auckland, Singapore, Malaysia and Australia and
    employs over 40 staff. Since its launch 25 years ago, the company has become
    a leading provider of software and solutions for banks and financial
    institutions in Australasia.
    
    For more information on our activities, please refer to our website
    http://www.finzsoft.com
    
    B G IMPEY
    Chairman
    
    A A Holliday
    Managing Director
    End CA:00251081 For:FIN    Type:FLLYR      Time:2014-05-30 16:23:36
    				
 
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