Trading Update

19 Jul 2006 07:01

Sirius Financial Solutions PLC19 July 2006 19 July 2006 Sirius Financial Solutions plc Pre-close trading update - six months ending 30 June 2006 Sirius Financial Solutions plc (AIM: SIR), the specialist supplier of softwareand services to the international insurance and financial services industry,today issues the following trading update for the six months to 30 June 2006. In line with the Board's expectations, strong first-half trading has drivenincreased revenues with margin improvements leading to a significant increase inprofitability compared with the first half of 2005. The Group has shown good growth across all lines of business and continues tofocus on winning new customers as well as the provision of managed and supportservices. As a result, the order book is encouraging. In the Intermediary Systems business, there has been a continued improvementwith sales of our flagship 'Sirius 21' managed service and the number ofcustomers signed up has increased from 91 in January 2005 to 135 today. Of note,Towergate Partnership, has committed 800 users to Sirius 21. Last year was a record year for Sirius for Insurance (S4I) in the InsuranceSystems division, with the level of interest in this product remaining strongacross all geographies. The Group remains committed to the expansion of itsIndian development centre and has increased the number of employees in India to60, up from 46 in April 2006. Sirius Financial Solutions expects to announce its interim results on 12September 2006. EnquiriesSirius Financial SolutionsStephen Verrall/ Richard Bowser 0121 779 8400 College HillAdrian Duffield/Ben Way 020 7457 2815 This information is provided by RNS The company news service from the London Stock Exchange