Total Systems PLC - Chairman's AGM Statement
August 02 1999 - 7:05AM
UK Regulatory
RNS No 3656e
TOTAL SYSTEMS PLC
2 August 1999
ANNUAL GENERAL MEETING - CHAIRMAN'S STATEMENT
At the Annual General Meeting of Total Systems plc, the financial services
software supplier and internet, intranet and extranet developer, Terry Bourne,
Chairman, made the following statement regarding current trading:
"With clients deferring information technology decisions as the year 2000
approaches, trading for the first quarter has produced turnover down about 10
per cent on the previous year and order intake down by more than a third.
Performance for the rest of the current year will depend on the speed with
which we can close our lengthening list of prospects. The Company sees no
reason why market expectations for the full year to March 2000 should not be
met, subject to the timing of future order intake.
Your Board considers that there is likely to be a recovery in the second half
as many of the delays the Company is experiencing will be resolved with the
passage into the year 2000 and, accordingly, we believe that the future is
full of potential. With the energy, ability and commitment of our staff the
opportunities for growth and expansion will be pursued with enthusiasm."
e-mail: info@totalsystems.co.uk web site: http://www.totalsystems.co.uk
Enquiries:
Terry Bourne,Chairman Total Systems plc 0171 294 4888
Simon Ellis Binns & Co PR Ltd 0171 786 9600
END
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