- Release Date: 28/03/12 11:53
- Summary: FORECAST: FIN: Finzsoft Solutions Limited 2012 Financial Results Prelimina
- Price Sensitive: No
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FIN 28/03/2012 09:53 FORECAST REL: 0953 HRS Finzsoft Solutions Limited FORECAST: FIN: Finzsoft Solutions Limited 2012 Financial Results Prelimina The Board of Directors of Finzsoft Solutions Ltd (FIN) wish to advise that the anticipated result for the current financial year ending 31 March 2012, is forecast to be a loss after tax in the range of ($400,000) - ($550,000). This compares with a profit after tax for the same period last year of $545,000. Finzsoft has over the past three years, and more significantly over this financial period, increased its investment in: o The further development of a world-class tier one full lifecycle banking and finance software; o The establishment and implementation of a leading tier one global channel partnership; and o The investment in Australasian and Asian sales teams and operations. The Board is committed to these investments based on strong market demand for banking and finance software in these regions. The disappointing result in the second half of the year is primarily the result of; o US customer non-payment default and subsequent withdrawal of services by Finzsoft; and o Withdrawal as preferred supplier from a long sales process after considerable investment based on concerns over the project's risk profile. Despite this short-term impact on profitability, Finzsoft is well positioned for future growth. For any further enquiries please contact: Andrew Holliday, Managing Director - Global +64 21 355 492 Ian Wills, Managing Director - Operations +64 27 295 7205 Finzsoft Solutions Limited End CA:00221240 For:FIN Type:FORECAST Time:2012-03-28 09:53:57
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