SQS -1x Square

 

TIDMSQS 
 
RNS Number : 0141P 
SQS Software Quality Systems AG 
08 July 2010 
 

8 July 2010 
 
                        SQS Software Quality Systems AG 
                            ("SQS" or the "Company") 
 
                            H1 Contract Wins Update 
 
SQS Software Quality Systems AG (AIM: SQS.L), the world's largest pure play 
supplier of independent software testing and quality management services, is 
pleased to provide an update on contracts signed in the first half of the 
current year. 
 
As stated in the Company's AGM statement on 26 May 2010, SQS has made good 
progress in its strategy to increase the proportion of its revenues from managed 
services, with an order intake at the time of EUR15m. 
 
Managed services contract wins since that date include: 
 
·      a three year blended onshore/offshore managed services contract with a 
leading global insurance company, valued at approximately EUR6m in total. SQS was 
awarded this contract due to its multi-language offshore capabilities and strong 
track record in the insurance industry; 
 
·      a further tranche of onshore/offshore consulting to assist a major UK 
utility with new IT project roll outs worth in excess of EUR2.5m; 
 
·      an expanded role with one of the leading gaming companies in Europe 
(having previously worked on project based contracts) to provide managed 
services for computer games testing. This new contract, signed for an initial 12 
month period, is valued at approximately EUR500k and will be carried out by SQS 
consultants both onshore and offshore. 
 
The Company has also continued to win new contracts in its traditional project 
consultancy business. New wins since the last trading update include a 12 month 
project management contract with Europe's largest renewable energy company at a 
value of approximately EUR400k and a 12 month contract with Africa's largest food 
retail company on testing in a SAP rollout project. A further project-based 
contract was signed with an international specialist banking group in security 
testing on a new payments project. 
 
Rudolf van Megen, Chief Executive Officer of SQS commented, 
 
"We are delighted to have signed a number of new contracts across multiple 
sectors, including gaming, insurance, energy, retail and banking, maintaining 
our momentum in the current year. In addition, it is very encouraging to see the 
progress being made with our managed services offering and the increasing 
proportion of our overall business that this represents. 
 
"We are also pleased to report that trading for the first half has been in line 
with expectations." 
 
 
Enquiries: 
 
+------------------------------------------+--------------------------+ 
| SQS Software Quality Systems AG          | Tel. +49 (2203) 91 54 0  | 
+------------------------------------------+--------------------------+ 
| Rudolf van Megen, Chief Executive        |                          | 
| Officer                                  |                          | 
+------------------------------------------+--------------------------+ 
| Rene Gawron, Chief Financial Officer     |                          | 
+------------------------------------------+--------------------------+ 
|                                          |                          | 
+------------------------------------------+--------------------------+ 
| Altium                                   | Tel. +44 (0)20 7484 4040 | 
+------------------------------------------+--------------------------+ 
| Tim Richardson                           |                          | 
+------------------------------------------+--------------------------+ 
| Katie Hobbs                              |                          | 
+------------------------------------------+--------------------------+ 
|                                          |                          | 
+------------------------------------------+--------------------------+ 
| Threadneedle Communications              | Tel. +44 (0)20 7653 9850 | 
+------------------------------------------+--------------------------+ 
| Tom Moriarty                             |                          | 
+------------------------------------------+--------------------------+ 
| Caroline Evans-Jones                     |                          | 
+------------------------------------------+--------------------------+ 
| Hilary Millar                            |                          | 
+------------------------------------------+--------------------------+ 
 
 
About SQS 
 
SQS is the world's largest pure play supplier of independent software testing 
and quality management services. SQS consultants design and oversee quality 
management processes during the software and IT systems life cycle and test the 
resulting products for errors and omissions. 
 
Headquartered in Cologne, Germany, SQS has approximately 1,600 employees across 
Europe, Asia, North America and Africa. The Group has a strong presence in 
Germany (Cologne, Munich, Frankfurt, Stuttgart, Goerlitz and Hamburg) and in the 
UK (London, Woking, Birmingham, Manchester, Belfast), Ireland, the Netherlands, 
Switzerland, Austria, Sweden, Norway, Finland, India, Egypt, the United States 
and South Africa. SQS also has a minor stake in an operation in Portugal and a 
partnership operation in Spain. 
 
With more than 5,000 completed projects, SQS has a strong customer base 
including 20 FTSE-100 companies, half of the DAX 30 and nearly a third of the 
STOXX-50. It supports clients in a wide range of industries, including major 
corporations such as Allianz, Beazley, BP, Centrica, Commerzbank, Daimler, 
Deutsche Post, Generali, JP Morgan, Meteor, Reuters and Volkswagen. 
 
www.sqs-group.com 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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