Software firm Eg Solutions expects to be back in the black with a small profit compared to a pre-tax loss of £750,000 last year.
The Staffordshire company said the positive trends and steadier trading conditions reported in late September at the time of its half year results continued during the second half year.
It said full year revenues were expected to be approximately £4 million, compared to £3.7 million in 2009.
The group said, in a statement: “During the year, eg has won a series of orders from major blue chip financial services companies in the UK and internationally.
“UK contract wins included several orders from one of the leading life and pensions providers and Nationwide Building Society, culminating in the recent contract for an enterprise-wide software licence. International contract wins include one of the largest bancassurance groups in the Nordic region and a leading financial services company in South Africa. All of these contracts include initial licence fees and a provision for ongoing support and services.”
It continued: “The company has a solid pipeline of potential sales and expects to benefit from recurring maintenance revenues and the sale of additional services and licences to existing customers.”
Net cash deposits as at January 31 were £400,000, compared to £600,000 on July 31 last year and £300,000 at the same stage last year.
