Email Contact Phone Company Visit Website

London, UK Head Office

Riverside House 2A Southwark Bridge Road London SE1 9HA


+44 (0)20 7940 0490


Jessica Williams
[email protected]
Back to all Patsystems announcements

Patsystems Plc results for the Twelve Months Ended 31 December 2010

Financial Highlights

* Total revenue £22.1 million (2009: £22.1 million)
* Adjusted pre-tax profit at £3.8 million (2009: £3.9 million)*
* Cash and cash equivalents increased to £9.3 million (2009: £8.9 million)
* Proposed full year dividend increased 29% to 0.55p per share (2009: 0.425p per share)

*adjusted for share option costs, marking to market of derivatives used to hedge cash flows and amortisation of intangibles other than internally developed software

Operational Highlights

* Continued expansion into new growth markets with sales success for exchange offering in Argentina and Vietnam
* Hosting centres established in Chicago, Hong Kong, Tokyo, Singapore and Sydney to deliver a fully-managed Application Service Provider (“ASP”) to existing and new customers
* Business’ global ASP offering promoted as Patsystems XConnect making anticipated contribution to trading systems revenue growth in 2011
* Bursa Malaysia Derivatives selected Patsystems as the provider of its new order management system

Richard Last, Chairman, of Patsystems, commented:

“2010 was a year with a mixed performance across the business. We saw some notable sales successes, such as the new customers for our exchange system offering, tempered against deferred sales opportunities for our risk product and marginal growth within our trading systems business.

The Group continues to demonstrate continued cash generation and profit resilience and we expect this to continue in 2011 and beyond. The continued payment and growth in the level of the dividend is an important statement by the Board of our continued confidence in the growth prospects for the business.

Patsystems commences 2011 with an encouraging sales pipeline that will provide opportunity to expand our geographical presence and grow the revenues for each of our product offerings.”