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Focus Solutions

  • BY: Andrew Hore |
  • POSTED: 04/11/2009 |

Focus Solutions has warned that interim revenues will be lower but it remains confident that it will achieve the full year forecasts.

The consumer facing financial software developer says that it will still be profitable in the six months to September 2009. A profit of £741,000 on revenues of £4.9m was reported in the six months to September 2008 - or £848,000 profit before exceptionals.

Daniel Stewart forecasts profits of £2.4m on revenues of £11m in the year to March 2010.

Delayed contracts are starting to come through. A UK IFA network has awarded a contract worth £2m over five years.

Net cash is £2.5m.

At 35.5p a share, down 2p on the day, Focus is valued at £11.1m. The shares are trading on less than seven times prospective earnings for 2009-10.

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