For the full fiscal year has seen an increase of 3 percent in revenues on the previous year. In addition, the company has invested almost half a million sterling in 2007 on the development of its next generation of kACE. A launch for the new product is scheduled for 2008.
Highlights for 2007:
• Substantial investment in the next generation of kACE.
• Three-year contract with the FTSE Index Company. The FTSE Index Company will calculate and publish all of its Bond and Fixed income indices through Kalahari’s flagship product kACE. This amounts to 2000+ real-time indices. kACE is expected to improve operational performance and bring in-house a previously outsourced system
• Significant strengthening of the board and management team following the appointments of Steve Palmer as finance director, John Conlan as non-executive director, Edward Maher as managing director for the Americas region and Martin Stevens, director of professional services and support.
• Strong start to new financial year with a major new contract, several contract renewals and various new customer contracts.
Commenting on the results, Graham Mansfield, managing director said, “Demand for our services remains robust. We have expanded our operations, delivered strong cash flow and maintained a healthy balance sheet. 2007 has laid the foundations for significant future growth following the investment in our next generation of kACE, securing the significant FTSE contract and the strong start we have made with new customer sales in the current year.”
“Kalahari is a profitable, cash generative business well able to capitalise on its strong presence in the global money and foreign exchange markets, where in recent turbulent months its participants have been reminded of the importance of our analytic solutions.” He continued.