FFastFill plc (‘FFastFill’ or the ‘Company’), the leading provider of application services to the global derivatives community, announces its interim results for the period ended 30 September 2005.
• Revenue up by 22% to £2.277m (30 September 2004: £1.867m);
• Revenue from continuing operations up by 44%;
• Loss on ordinary activities before taxation was £1.566m (30 September 2004: £1.594m);
• Cash at 30 September 2005 was £2.465m (31 March 2005: £911k);
During the period the company has:
• Continued to invest in the company’s application services offering and increased our investment in our new software architecture and functionality to provide a modern, flexible software service platform.
• Won two new major institutional customers: Bear Stearns and JP Morgan.
• Won the contract for the CBOT new order management system based on our FFastTrack system.
• Made further progress in migrating the Future Dynamics customer base to the FFastFill application service.
• Established our first partnership, with Trading Technologies, to deliver their front-end trading screen as a service, initially from our Chicago data centre.
• Restructured our development teams in London and Prague as an integrated software development business and won further development contracts.
Commenting on the results, Keith Todd, Executive Chairman and CEO of FFastFill, said:
"This has been a period of solid progress, during which we have continued to invest to consolidate our position as the leading provider of application services to the global derivatives community. We are expecting further progress during the second half of the year."