REG - Alfa Financial Soft - Strong Q3 trading full-year expectations increased

Alfa Financial Software HoldingsAnnouncement

10/11/2022 07:00

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RNS Number : 9076F  Alfa Financial Software Hldgs PLC  10 November 2022

10 November 2022

Alfa Financial Software Holdings PLC

Strong Q3 trading, full-year expectations increased

 

Alfa Financial Software Holdings PLC ("Alfa" or the "Company"), a leading
developer of mission-critical software for the asset finance industry,
provides this update on trading for the third quarter of the year ended on 30
September 2022.

 

Operational performance

Operational delivery has continued at pace in the third quarter with seven
upgrades delivered in the period. We continue to develop and expand our
partner program and have made significant progress in the US where this month
we have our first partners working on projects.

Our Smart Hub in Portugal is now live and we are accelerating recruitment of
additional developers in Lisbon.

Alfa Systems Version 5.7 has been launched. This was an opportunity to tell
the market about two years of technical and functional innovation that is
already bringing enormous benefits to Alfa customers.

We were also delighted to be ranked number four in the UK's Top 100 Most Loved
Workplace list by Newsweek, a great external endorsement of the continuing
strength of the Alfa culture.

 

Q3 Trading

As noted in our trading update on 20 September 2022, trading since the half
year has been strong. We finished Q3 with revenues for the quarter of £25m.
This was 25% up on the £20m we recorded for the same period last year, driven
by strong levels of chargeability in both our Implementation and Product
Engineering teams, the latter delivering record levels of development for
customers.

We continue to be a highly cash generative business and our net cash balance
at 31 October 2022 was £21m, having paid the Special Dividend of £10.5m on 7
October 2022.

 

Outlook

We finished September strongly and this performance continued into October. As
a consequence our expectations for full year revenue have increased by
approximately £1.5 million Sterling, with all of this falling through to
operating profit. The Board remains confident that the Group's strong
intellectual property, strategy and business model will maintain its
market-leading position, financial performance and continued growth.

 

Andrew Denton, Chief Executive Officer of Alfa, said:

"I am delighted that we continue to perform very strongly both operationally
and financially and that our expectations for the year have increased further.
The strength of our order book, our sales execution and our pipeline continue
to give us confidence in our future prospects."

 

Enquires

Alfa Financial Software Holdings PLC
                                 +44 (0)20
7588 1800

Andrew Denton

Duncan Magrath, Chief Financial Officer

 And

Tulchan Communications LLP
                                    +44
(0)20 7353 4200

James Macey White

Ed Cropley

 

This announcement may include statements that are, or may be deemed to be,
"forward-looking statements". These forward-looking statements may be
identified by the use of forward-looking terminology, including the terms
"believes", "estimates", "plans", "projects", "anticipates", "expects",
"intends", "may", "will" or "should" or, in each case, their negative or other
variations or comparable terminology, or by discussions of strategy, plans,
objectives, goals, future events or intentions. Forward-looking statements may
and often do differ materially from actual results. Any forward-looking
statements reflect the Company's current view with respect to future events
and are subject to risks relating to future events and other risks,
uncertainties and assumptions relating to the Group's business, results of
operations, financial position, liquidity, prospects, growth or strategies.
Forward-looking statements speak only as of the date they are made.

 

Notes to Editors

Alfa has been delivering software systems and consultancy services to the
global asset and automotive finance industry since 1990.  Our best practice
methodologies and specialised knowledge of asset finance facilitates delivery
of large software implementations and highly complex business change
projects.  With an excellent delivery track record now into its fourth
decade, Alfa's experience and performance is unrivalled in the industry.

 

Alfa Systems, our class-leading technology platform, is at the heart of some
of the world's largest asset finance companies. Key to the business case for
each implementation is Alfa Systems' ability to replace multiple customer
systems with our single platform. Alfa Systems supports both retail and
corporate business for auto, equipment, wholesale and dealer finance on a
multijurisdictional basis, including leases/loans, originations and servicing.
An end-to-end solution with integrated workflow and automated processing using
business rules, Alfa Systems provides compelling solutions to asset finance
companies.

 

Alfa Systems is currently live in 37 countries.  Alfa has offices in Europe,
Australasia and North America.  For more information, visit
www.alfasystems.com.

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