Regulatory Announcements
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RNS Number : 6890Z
SQS Software Quality Systems AG
July 5 2007
5 July 2007
SQS Software Quality Systems AG
Trading update
SQS Software Quality Systems AG (AIM: SQS), is pleased to announce an update on trading for the six months ended 30 June 2007.
SQS is consolidating its position as the world’s largest pure-play provider of independent software testing and quality management services. The strong performance reported in early May has continued and the Group expects to report first-half revenues considerably ahead of the same period last year – in line with the Board’s expectations.
The Company benefited from a first time contribution from Cresta – the UK software testing business acquired in July 2006 (and which therefore made no contribution in the first half of 2006). Revenue growth from existing operations was significantly in excess of the 5.4% growth rate forecast for the European IT services industry by the European Information Technology Observatory.
The Company continues to generate expected margin improvements from higher pricing in the UK and Germany, continued high levels of utilisation and an increased number of consultants. In the six months under review, the Group increased its headcount by 17% to 860 and a continuing investment in staff will help SQS meet the growing market demand for independent software testing and quality management.
As reported in May, new clients have been won in all key markets and territories, with notable gains in the financial services and automotive sectors.
The Group added 64 new customers in the first half of 2007, compared with 100 across the whole of 2006, and the number of long-term contracts doubled to 14, many of which have offshore delivery components. The Group will continue investing in its offshore facility in South Africa and is successfully engaging high-quality software testing staff whose contribution is significant.
SQS will announce its interim results on 6 September 2007.
For further information please contact
SQS Software Quality Systems AG
+49 22 03 91 54 0
Rudolf van Megen, CEO
Rene Gawron, CFO
College Hill Associates Ltd
+44 (0) 20 7457 2020
Sara Musgrave
Carl Franklin
Notes to editors
SQS is the world’s largest independent provider of software testing and quality
management services. SQS consultants design and oversee quality management
processes during software and IT systems development, and test the resulting
products for errors and omissions.
Headquartered in Cologne, Germany, SQS now has 860 employees across Europe and in South Africa. The Group has a strong presence in Germany (Cologne, Munich, Frankfurt, Stuttgart and Hamburg) and in the UK (London, Woking, Birmingham, Manchester, Belfast), Ireland, Netherlands, Switzerland, Austria and South Africa. SQS also has a minor stake in an operation in Portugal and a partnership operation in Spain.
With more than 4,000 completed projects under its belt, SQS has a strong customer base including 36 FTSE-100 companies, half of the DAX 30 and nearly a third of the STOXX-50. It supports clients in a wide range of industries, including major corporations such as Lloyds TSB, Deutsche Telekom, Barclays, BP, Credit Suisse, Volkswagen, and Airbus.
END
5 July 2007
SQS Software Quality Systems AG
Trading update
SQS Software Quality Systems AG (AIM: SQS), is pleased to announce an update on trading for the six months ended 30 June 2007.
SQS is consolidating its position as the world’s largest pure-play provider of independent software testing and quality management services. The strong performance reported in early May has continued and the Group expects to report first-half revenues considerably ahead of the same period last year – in line with the Board’s expectations.
The Company benefited from a first time contribution from Cresta – the UK software testing business acquired in July 2006 (and which therefore made no contribution in the first half of 2006). Revenue growth from existing operations was significantly in excess of the 5.4% growth rate forecast for the European IT services industry by the European Information Technology Observatory.
The Company continues to generate expected margin improvements from higher pricing in the UK and Germany, continued high levels of utilisation and an increased number of consultants. In the six months under review, the Group increased its headcount by 17% to 860 and a continuing investment in staff will help SQS meet the growing market demand for independent software testing and quality management.
As reported in May, new clients have been won in all key markets and territories, with notable gains in the financial services and automotive sectors.
The Group added 64 new customers in the first half of 2007, compared with 100 across the whole of 2006, and the number of long-term contracts doubled to 14, many of which have offshore delivery components. The Group will continue investing in its offshore facility in South Africa and is successfully engaging high-quality software testing staff whose contribution is significant.
SQS will announce its interim results on 6 September 2007.
| For further information please contact | ||
| SQS Software Quality Systems AG | +49 22 03 91 54 0 | |
| Rudolf van Megen, CEO | ||
| Rene Gawron, CFO | ||
| College Hill Associates Ltd | +44 (0) 20 7457 2020 | |
| Sara Musgrave | ||
| Carl Franklin | ||
Notes to editors
SQS is the world’s largest independent provider of software testing and quality management services. SQS consultants design and oversee quality management processes during software and IT systems development, and test the resulting products for errors and omissions.
Headquartered in Cologne, Germany, SQS now has 860 employees across Europe and in South Africa. The Group has a strong presence in Germany (Cologne, Munich, Frankfurt, Stuttgart and Hamburg) and in the UK (London, Woking, Birmingham, Manchester, Belfast), Ireland, Netherlands, Switzerland, Austria and South Africa. SQS also has a minor stake in an operation in Portugal and a partnership operation in Spain. With more than 4,000 completed projects under its belt, SQS has a strong customer base including 36 FTSE-100 companies, half of the DAX 30 and nearly a third of the STOXX-50. It supports clients in a wide range of industries, including major corporations such as Lloyds TSB, Deutsche Telekom, Barclays, BP, Credit Suisse, Volkswagen, and Airbus.
END
