REG - Aptitude Software - AGM Statement and Appointment of CFO

Aptitude SoftwareAnnouncement

17/05/2023 07:17

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RNS Number : 6400Z  Aptitude Software Group PLC  17 May 2023

17 May 2023

APTITUDE SOFTWARE GROUP PLC

('Aptitude' or the 'Group')

AGM Statement and Appointment of Chief Financial Officer

 

Highlights

 ·             The Board remains confident that the Group's performance for 2023 will remain
               in line with its previous expectations.
 ·             Continued new business success with Aptitude Accounting Hub and Aptitude
               RevStream.
 ·             Fynapse pipeline continuing to grow with Telco charter client go-live on
               track.
 ·             Mike Johns, previously Acting Chief Financial Officer, appointed to the Board
               as Group Chief Financial Officer.

Ivan Martin, Chairman of Aptitude, provides the following trading update in
advance of the Annual General Meeting to be held at 9.00 a.m. today.

Aptitude has continued to achieve new business success in the first half of
2023, including the sale of Aptitude Accounting Hub to a large European bank
and Aptitude RevStream to a leading consumer products subscription business in
North America.

Continued progress has also been made with Fynapse, the Group's next
generation strategic digital finance platform, with a growing pipeline of
opportunities both directly and through our strategic partnerships with
Microsoft & KPMG.  The North American Telco charter client remains on
track to go-live in the middle of 2023.

Progress within Subscription and Revenue Management has been impacted by the
higher levels of churn experienced in 2022 continuing into the early months of
2023, as certain clients monitor spend as a result of wider economic
uncertainty and high inflation. The Board remains confident in the strategic
positioning of its portfolio and this is supported by a growing pipeline of
opportunities.

The Group's performance in the first half of 2023 has been underpinned by the
achievement of successful go-lives across the base of clients with the
Aptitude Insurance Calculation Engine following the compliance deadline in
2023. The Group continues to see growing opportunity across the base of
clients, particularly with Assure, Aptitude's increasingly popular Solution
Management Service.

As ever, but particularly given the current economic environment, the Board
continues to carefully control investment levels in the business, whilst
maintaining committed levels of spend for Fynpase and other strategic
priorities. The Board remains confident that the Group's performance for 2023
will be in line with its previous expectations.

Board Change

The Board is pleased to announce that following the conclusion of a formal
selection process by the Group's Nomination Committee, Mike Johns has been
appointed to the role of Chief Financial Officer for the Group with immediate
effect. Mike had assumed the role of Acting Chief Financial Officer in January
2023 following the notice that Philip Wood would be retiring from the Board in
July 2023.

Mike joined Aptitude in September 2017 and has previously held a number of
senior finance positions within the Group.

No further details are required to be disclosed in respect of the appointment
under LR 9.6.13 of the Listing Rules of the Financial Conduct Authority.

 

Contacts

Aptitude Software Group plc

Ivan Martin,
Chairman
020-3687-3200

Jeremy Suddards, Chief Executive Officer

Philip Wood, Deputy Chief Executive Officer

Mike Johns, Chief Financial Officer

Alma PR

Caroline Forde / Hilary
Buchanan                           020-3405-0205

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