Total Systems PLC - Trading Statement
July 31 1998 - 7:00AM
UK Regulatory
RNS No 0862t
TOTAL SYSTEMS PLC
31st July 1998
Total Systems plc - AGM Trading Statement
Total Systems plc confirms at today's AGM that trading for the
current year has started satisfactorily. The current order
book is 18 per cent ahead in value against the same period
last year and, at this stage and subject to the timing of
future order intake, the Company sees no reason why market
expectations for the full year to March 1999 should not be
met, although there is likely to be a stronger bias towards
the second half.
The client base of Total Systems plc continues to expand with
the roll out and development of our two principal products
Ultima and Optima. An increasing proportion of our sales is
being derived from the ongoing servicing of our products
across an increasing business portfolio. Both Ultima and
Optima are Y2K compliant and preparations for the Euro are
well advanced. The underlying software has now been
benchmarked to allow up to 2,000 users and is capable of going
well beyond this figure.
The latest version of Ultima, our insurance market product, is
now in its second year of service and continues to consolidate
its position as one of the most flexible leading edge
solutions for medium and large users. Investment in the
development of this product continues as the market moves
towards high volume cost efficient processing and maintenance.
Ultima incorporates an all embracing functionality which
enables full cycle EDI, Internet trading, e-commerce and
integration with Polaris. Our methodologies provide the
ability to bring new products to the market in weeks, rather
than the months or years taken by users of other technologies.
This functionality is critical for our clients with the
increasing pace of systems development.
A new version of our investment management package Optima has
recently been launched as Optima 2000+ and we are encouraged
by the interest in this upgraded product. It has the
capability of managing investments on an index tracking or
active management basis and can deal with the simultaneous
application of both methodologies to the same investment
portfolio.
Retention of staff to cope with current and anticipated
workload is excellent. This is largely due to the staff
loyalty bonus and option schemes and a rolling recruitment
programme. Our capacity to undertake more projects is further
enhanced by Total Systems plc's demonstrable ability to roll
our new systems in weeks rather than months or years.
We have received offers for our London Head Office property
and over the next month will be viewing suitable larger
properties to meet our future requirements.
Website reference if you wish to review our products in more
detail:
http//www.totalsystems.co.uk
For more information please contact: Terry Bourne
Tel: 0171 294 4888
END
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