Fusionex International PLC Trading Update (5953F)

TIDMFXI

RNS Number : 5953F

Fusionex International PLC

28 April 2014

 
For immediate  28 April 2014 
 Release

Fusionex International plc

("Fusionex", "the Company" or "the Group")

Trading Update

Fusionex, an award-winning and market leading international provider of enterprise software specialising in Analytics and Big Data solutions, is pleased to provide the following trading update for the six months ended 31 March 2014.

Fusionex continues to perform strongly and has again delivered a solid start to the financial year with revenue of circa MYR 24 million for the period, representing growth of more than 30 percent compared to the same period last year. The Company remains focused on delivering strong double-digit growth, consistent with the commitments made following the release of its full year results in January 2014.

The Group has made good progress converting a number of new business wins during the 6 months to 31 March 2014. These include:

-- Multi-million dollar deal with a client with global operations in the travel, leisure and hospitality sectors

   --      A contract with a large global hypermarket chain 
   --      Further contracts and wider traction within the media and marketing sector

-- A number of multi-year contracts with customers from the aviation, retail, oil and gas, travel and hospitality, utilities, financial services as well as property development and property management sectors

The Group has further strengthened its Enterprise Sales Team through the hiring of four experienced sales executives originating from IBM, Microsoft, Huawei and Citibank respectively. These new hires will be focused on customer generation in both existing markets as well as developing new client opportunities in new markets.

The Group launched Fusionex GIANT, its Big Data Analytics software, in December 2013. Over the last few months, it has continued with its accelerated R&D roadmap to further enrich GIANT's functionality. During this time, the Group has successfully converted all three of its pilot clients for GIANT to production ('live') clients. In line with the Group's plans to strengthen its Big Data Channel network, Fusionex established key technology partnerships with established and leading Big Data platform providers including Cloudera, Hortonworks and Revolution Analytics. The Group plans to recruit additional channel partners selectively to both widen its network and broaden its market reach.

The Board is confident that results for the six months ended 31 March will be in line with market expectations. The Group paid a dividend of GBP881,500 to shareholders on 28 January 2014.

Fusionex will announce interim results for the six months ended 31 March by the end of May 2014.

For further details:

Fusionex

 
 Ivan Teh, Chief Executive Officer          Through Buchanan 
  Yuen Choong Lai, Chief Financial 
  Officer 
 Panmure Gordon 
  Fred Walsh, Alina Vaskina, Ben 
  Roberts (Investment Banking) 
  Tom Nicholson, Charles Leigh-Pemberton 
  (Corporate Broking)                          020 7886 2500 
 
 Buchanan 
  Jeremy Garcia, Gabriella Clinkard 
  www.buchanan.uk.com                          020 7466 5000

This information is provided by RNS

The company news service from the London Stock Exchange

END

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