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Trading statements

IS Solutions to exceed market forecasts

04 September 2015 07:27

IS Solutions is confident of another strong performance for the year ending March 2016 with revenue and profitability exceeding current market expectations.

The company says that in the first five months of the current financial year (April - August), the business has successfully continued to build on its compelling finish to last year. The traditional IS Solutions business is experiencing much stronger underlying demand for its Analytics offering with sales currently well ahead of management budget. With financial organisations being the largest investors in big data solutions, the board is very pleased to announce that this divisions' business team has secured two major contracts with new customers from within the financial services sector.

One of these contract wins will initially be for a three-year period, the second will be completed in this year but we expect additional work upon successful completion of the first phase.

It is anticipated that they will add contracted revenue in excess of £4 million over the current financial year and in excess of £350,000 per annum of recurring revenue in subsequent years. It is pleasing to report that sales within Celebrus are also ahead of plan as it benefits from being part of a larger organisation and thus able to capitalise on its increasing pipeline of opportunities. Recent wins in the retail and airlines sectors have been added to the continuing success in the financial sector putting it ahead by 64% of sales for the same time last year. It adds: "Overall, we are making excellent progress and the above success gives us the opportunity to invest in our future. Over the coming twelve months the Company will establish a US office to provide real time customer service and pre-sales support to its already substantial US business and further enable future growth.

"IS Solutions will also expand its UK direct salesforce to take the collective portfolio to a broader customer base. Combine these initiatives with current project sales opportunities with both new and existing customers and we have an exciting future to look forward to."

Story provided by StockMarketWire.com

Related Company: ISL

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