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Lombard Risk Announces Record Results for Year Ending 31 March 2013

Lombard Risk Management plc, a leading provider of integrated collateral management and regulatory compliance solutions for the financial services industry, is pleased to announce record, both for revenue and profits, results in annual report and accounts for year ending April 2013.

Lombard Risk Management plc is listed on the London Stock Exchange: ticker code LRM.

Highlights of 2013 annual report and accounts:

  • Revenues increased by 31% to £16.8m (2012: £12.8m) of which second half £9.0m (2012: £6.4m)
  • Licence revenues £8.2m (2012: £6.0m)
  • EBITDA increased 77% to £5.3m (2012: £3.0m)
  • Profit before tax up 56% to £3.9m (2012: £2.5m)
  • Cash at end of period £1.9m (2012: £0.1m) with net cash of £0.2m (2012: net debt of £2.4m)
  • 33 contracts signed for COREP, of which eleven are new names
  • Significant sale of REFORM® platform to satisfy DFA and EMIR reporting requirements
  • FY 2014 opens with record revenue backlog in place
  • Final dividend 0.040p per share (2012: 0.035p per share) recommended to shareholders
  • The Board continues to view the future with optimism

John Wisbey, Chief Executive Officer, Lombard Risk says: "This year was a record year both for revenue and profit with 31% headline growth in revenues to £16.8m and a rise of 77% in EBITDA to £ 5.3m. This growth was achieved despite the European Banking Authority delaying new regulatory reporting requirements in our key EMEA market, which deferred some revenues into the next period."

Wisbey continued: "We enter the new financial year with our highest level of recurring revenues ever, our highest contractual backlog to date, a healthy sales pipeline and a sound cash position. As a result, the Board views the future with optimism."

Philip Crawford, Chairman, Lombard Risk says: "As the Group's results have indicated, turnover growth has proved to be more than resilient to economic challenges and we remain optimistic for the future."