AGM Statement and Trading Update (1330H)
May 24 2011 - 2:00AM
UK Regulatory
TIDMSQS
RNS Number : 1330H
SQS Software Quality Systems AG
24 May 2011
24 May 2011
SQS Software Quality Systems AG
("SQS" or the "Company")
Annual General Meeting Statement and Trading 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
trading ahead of its annual general meeting to be held at 10 a.m.
(CET) today at the Company's headquarters, Stollwerckstra(Beta)e
11, 51149 Cologne, Germany.
Investments made in 2010 into sales staff and infrastructure,
and the continuing investment into offshore consultancy staff and
our Managed Services business, continue to bear fruit. In recent
months the Company has signed a number of significant contracts as
well as winning substantial consultancy projects.
SQS has signed a EUR3 million Managed Services contract with a
telecommunications provider. The contract is to deliver onshore and
offshore testing services over the next two years.
In addition, SQS has extended a Managed Services contract with a
UK headquartered international law firm. The contract has been
extended for two years and will be worth an additional EUR1.1
million during that period.
In terms of traditional consultancy revenues, SQS has extended
its business in the public market with a EUR0.5 million contract
for project consultancy work for an international organisation. In
Germany, SQS has signed an extension of its engagement with a
logistics company, securing an order worth over EUR0.7 million for
services to be delivered this year.
In the Nordic region, SQS has signed a number of contracts with
banking industry clients. These include a contract worth EUR0.9
million, to provide test management for a new internet banking
service, and a further contract with the same client, worth EUR0.3
million, to provide a full suite of testing and process enhancement
services. The third contract is with a new banking client and is to
provide acceptance testing, worth EUR0.3 million.
Rudolf van Megen, Chief Executive Officer of SQS, will, at
today's annual general meeting, make the following comment, "In
line with our stated strategy, SQS' Managed Services offerings
continue to increase as a proportion of total revenue, whilst the
Group secures contract wins in traditional consulting projects
across all areas of the business. In addition, we have a
substantial pipeline of new business, of which Managed Services
contracts are an increasingly significant element. These
developments are giving us improved revenue visibility and are
expected to lead to higher margins and profitability in the medium
term. We are therefore confident of meeting full year market
expectations."
Enquiries:
SQS Software Quality Systems AG Tel. +49 (2203) 91 54
0
Rudolf van Megen, Chief Executive Officer
Rene Gawron, Chief Financial Officer
Arbuthnot Securities Tel. +44 (0)20 7012 2000
Nick Tulloch
Antonio Bossi
Walbrook PR Limited Tel. +44 (0)20 7933 8783
Bob Huxford
Helen Westaway
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 2,000
employees across Europe, Asia, North America and Africa. The Group
has a presence in Germany (Cologne, Munich, Frankfurt, Stuttgart,
Goerlitz and Hamburg), 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, more than half of
the DAX 30 and 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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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