Chairman's Statement
August 04 2000 - 6:15AM
UK Regulatory
RNS Number:0089P
Total Systems PLC
4 August 2000
TOTAL SYSTEMS plc
ANNUAL GENERAL MEETING - CHAIRMAN'S STATEMENT
Order intake significantly up at end of 1st quarter
At the Annual General Meeting of Total Systems plc, the financial services
software supplier and internet, intranet and extranet developer, held earlier
today in London Terry Bourne, Chairman, made the following statement regarding
current trading:
"We have seen a significant pick-up in order intake towards the end of the
first quarter of the current year. The pipeline of prospective clients
continues to grow but the full year's performance will depend on how quickly
these enquiries can be turned into actual contract gains. In the last few
weeks we were pleased to have announced two such contract gains with
nationwide retailer, Dixons Group PLC, and Meon Villas, part of leading tour
operator First Choice Holidays PLC. Both deals were won against strong
competition and are good examples of how investment in existing and new
product development has paid off.
"Dixons chose our Insurance System product, Ultima, on account of its
functionality, flexibility, full Internet capability and the speed with which
Ultima allows end users to quickly handle changes and deliver new products
across many lines of business. We are confident that they will extend use of
the system, destined initially for the UK and Republic of Ireland, into many
continental European countries.
"Meon Villas asked us to develop an Internet e-commerce site for it and we
will be using totalenow to power the site. Since its launch in April 2000 we
have gained 10 contracts for totalenow and we continue to target customers
across a broad range of industries, most notably the leisure & travel, retail,
insurance, and business services sectors. Our market profile in many of these
new areas is increasing all the time and I am confident that in the medium
term we shall see major benefits for the group as a whole.
"This improvement in business conditions is most welcome but is unlikely to
impact strongly on first half results. The second half should see a
significant pick-up in activity but the benefit accruing from the launch of
our e-commerce product will take longer to materialise due to the nature of
such contracts. The Board are confident of gaining new contracts for Ultima
in the short-term."
E-mail: info@totalsystems.co.uk web site: http://www.totalsystems.co.uk
Enquiries:
Terry Bourne, Chairman Total Systems plc 020 7294 4888
Peter Binns/Simon Ellis Binns & Co. PR Ltd. 020 7786 9600
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