By silicon.com, 16 February 2004 16:05
NEWS 16.02.1999: Financial software specialist Royalblue saw its pre-tax profits rise to £4.5m in 1998, a 50 per cent increase from the previous year. The company enjoyed healthy growth for 1998 with revenues up 43 per cent to £29.5m from £20.6m in 1997.
Royalblue's call centre division was particularly successful, signing up new customers like Woolwich, Marconi Communications and HM Customs & Excise and seeing revenues rise to £2.8m during the year.
The UK company also saw its first significant overseas growth with US revenues up 101 per cent to £5m and revenues from Europe and Australia bringing in £900,000. In the last two years revenue from international business has risen to 20 per cent of the overall company total.
Royalblue's financial customers include Deutsche Bank, Dresdner Kleinwort Benson, Goldman Sachs, HSBC and Merrill Lynch.
In a statement CEO, John Hamer said the company would look to further expand its European and US business without neglecting the UK market. The company hopes alliances in the European trading sector will create new market opportunities over the next year.
16.02.2004: With its Fidessa trading platform software used by many of the large financial institutions and stock exchanges, Royalblue has seen out the rough years after the implosion of the tech bubble and is itself predicting a return to growth.
Earlier this month the company announced it is to give shareholders a special dividend of £8m on the back of recurring revenue up by third to £29.2m. CEO Chris Aspinwall predicts trading will remain difficult for the first half of the year with a return to growth for the whole year.
With the chance that the purse strings may be loosened just a little IT budgets in the world's financial centres, Royalblue looks set to take advantage of any upturn in fortunes.
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