Alfa Financial Software Hldgs PLC Pre-close update - in line with expectations (9911T)
July 28 2022 - 2:01AM
UK Regulatory
TIDMALFA
RNS Number : 9911T
Alfa Financial Software Hldgs PLC
28 July 2022
28 July 2022
Alfa Financial Software Holdings PLC
Pre-close update - in line with expectations
Alfa Financial Software Holdings PLC ("Alfa" or the "Company"),
a leading developer of mission-critical software for the asset
finance industry provides this update on trading. The half-year
results are expected to be announced on Thursday 1 September
2022.
Operational Performance
In the second quarter we have seen further strong delivery for
our customers and we have made very good progress with partner
utilisation.
The market for talent remains competitive but we have continued
to retain and grow our talent pool and we are in line with our
plans at the half year point.
Our pipeline has increased during the half year and it is
healthy across all stages. We continue to sign new business and our
Total Contract Value has grown.
Trading
Trading was in line with our expectations with good revenue
growth in the first half benefiting from continued growth in
Subscription revenues and also the effect of favourable exchange
rates. Services revenue was slightly up on the first half of last
year despite additional vacation days being taken. Software revenue
was in line with the first half last year. Cash generation has
remained strong.
Demand remains strong at the half year point, but we remain
conscious that the current macro-economic uncertainty is likely to
continue. Our global reach and continuing reduction in customer
concentration along with strong sales drivers like the requirement
for agility, digitalisation and regulatory push factors add
protection for Alfa's growth and performance.
Outlook
We remain confident of achieving full year market expectations
and we believe that we still have the opportunity to exceed them
through our second half performance. The Board remains very
confident that the Group's strong intellectual property, strategy
and business model will maintain its market-leading position,
financial performance and continued growth.
Andrew Denton, Chief Executive Officer of Alfa, said:
"I am very happy with our performance in the first half of 2022.
The strength of our order book, our sales execution and our
pipeline all give us confidence. We are pleased with our
performance in recruiting and retaining talent in a competitive
market and especially pleased with the expansion of our partner
program. Whilst there is a significant degree of macro-economic
uncertainty, we are confident in our expectations for the full
year."
Enquiries
Alfa Financial Software Holdings
PLC
Andrew Denton, Chief Executive
Officer
Duncan Magrath, Chief Financial
Officer
and +44 (0)20 7588 1800
Tulchan Communications LLP
James Macey White
Matt Low +44 (0)20 7353 4200
LEI : 213800C5UOZHUTNUGA28
This announcement may include statements that are, or may be
deemed to be, "forward-looking statements". These forward-looking
statements may be identified by the use of forward-looking
terminology, including the terms "believes", "estimates", "plans",
"projects", "anticipates", "expects", "intends", "may", "will" or
"should" or, in each case, their negative or other variations or
comparable terminology, or by discussions of strategy, plans,
objectives, goals, future events or intentions. Forward-looking
statements may and often do differ materially from actual results.
Any forward-looking statements reflect the Company's current view
with respect to future events and are subject to risks relating to
future events and other risks, uncertainties and assumptions
relating to the Group's business, results of operations, financial
position, liquidity, prospects, growth or strategies.
Forward-looking statements speak only as of the date they are
made.
Notes to Editors
Alfa has been delivering software systems and consultancy
services to the global asset and automotive finance industry since
1990. Our best practice methodologies and specialised knowledge of
asset finance facilitates delivery of large software
implementations and highly complex business change projects. With
an excellent delivery track record spanning three decades, Alfa's
experience and performance is unrivalled in the industry.
Alfa Systems, our class-leading technology platform, is at the
heart of some of the world's largest asset finance companies. Key
to the business case for each implementation is Alfa Systems'
ability to replace multiple customer systems with our single
platform. Alfa Systems supports both retail and corporate business
for auto, equipment, wholesale and dealer finance on a
multijurisdictional basis, including leases/loans, originations and
servicing. An end-to-end solution with integrated workflow and
automated processing using business rules, Alfa Systems provides
compelling solutions to asset finance companies.
Alfa Systems is currently live in 37 countries where it is
supporting a portfolio where the customers' end clients are
located. Alfa has offices in Europe, Australasia and North America.
For more information, visit www.alfasystems.com .
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
TSTSESFWWEESESW
(END) Dow Jones Newswires
July 28, 2022 02:01 ET (06:01 GMT)
Alfa Financial Software (LSE:ALFA)
Historical Stock Chart
From Jun 2024 to Jul 2024
Alfa Financial Software (LSE:ALFA)
Historical Stock Chart
From Jul 2023 to Jul 2024