â¢ Turnover up by 63% to Â£4.326m (2003/4: Â£2.651m);
â¢ Operating loss on continuing operations was Â£2.293m (2003/4: Â£2.146m);
â¢ Cash at 31 March 2005 was Â£911k (2003/4: Â£967k); in addition we received Â£1.7m in mid April from customers, being payments that were due to be received prior to 31 March 2005;
â¢ The company was pleased to announce an additional Placing of Â£3.1m that is due to be approved at an EGM on 23 May 2005.
During the year, the company has:
â¢ Been selected by Reuters to be their launch partner in delivering CME E-quivalents. As a result we have signed application services contracts with five international banks including HSBC, Barclays Capital, ABN Amro, the Royal Bank of Scotland and Bank of America, for the provision of the CME E-quivalents service.
â¢ Won the full application outsourcing for DrKWâs Listed Products Group for trading software.
â¢ Acquired and successfully integrated Future Dynamics, a provider of trading, risk management and middle office software.
â¢ Built a high specification data centre facility in Chicago from which it will deliver the new generation application services.
â¢ Refocused it US business behind the Application Services strategy by transferring its Introductory Broker customers to Advantage Futures LLC, a fast growing Chicago-based Futures Commission Merchant to whom we now deliver an application service.
â¢ Extended its support coverage to 24 hours a day for five and a half days a week.
Commenting on the results, Keith Todd, Executive Chairman and CEO of FFastFill, said:
"We made real progress this year and vindicated the strategy of becoming an application services business for the financial community. We are confident that this strategy will deliver further success in the new financial year."