FIN finzsoft solutions limited

Ann: FORECAST: FIN: Finzsoft Solutions Limited 20

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    • Release Date: 28/03/12 11:53
    • Summary: FORECAST: FIN: Finzsoft Solutions Limited 2012 Financial Results Prelimina
    • Price Sensitive: No
    • Download Document  1.6KB
    					
    
    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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