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Alfa Financial Software Holdings PLC on Tuesday increased its expectations for annual revenue, as a result of new contractual certainty and strong trading in August.
The London-based software developer for the finance industry said it has obtained the improved contractual certainty with two clients, as well as request for additional personnel on other projects.
In addition, the company's performance in August was very strong, as chargeable days reached a record level. In addition, software revenue rose due to high levels of approval received from clients for development. This growth has continued into September.
As a result, Alfa's expectations for 2022 revenue has increased by £2 million, with most of this benefit falling through to operational profit.
‘I am very happy that we have had a record chargeable month and good Software revenue performance in August and this along with a strong trading start to the second half has enabled us to increase our expectations for the full year. The strength of our order book, our sales execution and our pipeline continue to give us confidence in our future prospects,’ said Chief Executive Officer Andrew Denton.
Shares in Alfa Financial Software were up 5.2% at 172.50 pence on Tuesday in London.
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