AGM Statement
July 10 2003 - 6:30AM
UK Regulatory
RNS Number:3742N
Wealth Management Software PLC
10 July 2003
For Immediate Release 10 July 2003
Wealth Management Software plc ("the Company")
AGM STATEMENT
At the Company's AGM held at 10 am on July 10th 2003, Paul Newton Chairman said:
"Our operating profit was slightly ahead of management's expectations at the
half year. Cash has increased by #480,000 in the six months, from #1.44 million
at 31 December 2002 to #1.92 million at 30 June 2003.
We have now received our second order in Germany, from Bankhaus Bauer AG in
Stuttgart for LISA(R) Fund Manager. The contract is valued at #145,000 which
will be recognised in the second half of this year and will provide the bank
with full European private client management. This development will provide WMS
with a European business model solution which should enable the Company to win
further orders in Germany.
BWD Rensburg have placed an order for LISA(R) Document Broker and LISA(R)
Document Warehouse. The value of the contract is #350,000 of which #180,000 is
for a licence. This project will be implemented between August 2003 and June
2004 and licence revenues will be recognised equally between the two years.
PPML, a subsidiary of Credit Suisse, continues to invest in its implementation
of LISA(R) Pensions. The project went live in June 2003 and, so far this year,
PPML has placed #600,000 of additional orders with us for professional services
to further enhance LISA(R)."
For further information:
Paul Newton, Chairman
Wealth Management Software 0121 550 9222
Richard Darby
Buchanan Communications 07970 799176
This information is provided by RNS
The company news service from the London Stock Exchange
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