LONDON, June 27, 2016 /PRNewswire/ --
Proposed rebranding to reflect the business' focus on data analytics
IS Solutions Plc (Symbol: ISL) publishes the Group's Annual Report & Accounts for the year ended 31 March 2016.
Peter Kear, CEO commented:
"This is a very exciting time for the business - over the last five years the IS Solutions historic model has developed its core strategy to progressively build a data analytics business. Our new market focus brings together existing fields of expertise and new skills to create a comprehensive and cohesive range of data solutions. In order to reflect this step-change the Board has already announced its intention, subject to shareholder approval in July 2016, to rename the Company and rebrand it D4t4 Solutions Plc.
"Our emphasis on data is an evolution of many years of experience in providing solutions for clients' data needs. In recent years, this has taken shape around our growing capabilities in enabling our customers to profit from their data in terms of organising it, monetising it and gaining benefit from it. The new areas of the business take us to the next level of data solutions and create further pull-through opportunities for the more established parts of the business."
"All of this bodes well for the future and the Board is confident that the Company can deliver another year of solid progress and will achieve current market expectations for the year ending 31 March 2017."
The Chairman's letter and financial statements for the year ended 31 March 2016 can be read in full on the Company's website http://www.issolutions.co.uk; a summary is provided below:
Year six-months 15-months ended ended ended % 31 March 30 September 31 March period-on-period 2016 2015 2015 growth audited unaudited* audited Revenue GBP15.30m GBP7.04m GBP12.29m -Continuing business (IS Solutions ) GBP3.30m GBP1.43m GBP0.55m -Celebrus Technologies (Celebrus) (six weeks) GBP18.60m GBP8.47m GBP12.84m 45% Gross profit GBP9.21m GBP3.96m GBP4.67m 97% GP margin 49.52% 46.75% 36.37% +1315 bps Underlying pre-tax profit** GBP3.50m GBP1.54m GBP1.22m 187% Adjusted fully diluted EPS 8.24p 3.36p 3.86p 113% Total dividend for the year (includes proposed final dividend of 1.5p) 2.00p 0.50p 0.56p 257% Strong cash generation - gross cash position GBP5.00m GBP2.09m GBP0.09m 5456% * The unaudited interim figures are as reported at the Half-year ended September 2015 released on 24 November 2015 ** Before amortisation of intangibles and share-based payment charges and 2015-acquisition costs of (GBP0.54m) Ø Our successful business model has driven both top and bottom line increases for the Company with growth coming from its core data analytics business which has shown a substantial improvement period-on-period of 126% Ø Our focus on the application of data to the fundamentals of our clients' business needs has led to substantial growth in our project work and will fuel growth in our recurring revenue going forward Ø The combination of the established and well respected brands of IS Solutions and Celebrus has opened up a number of cross-selling opportunities and, at the same time, it has created a much more balanced business with stronger higher margin license sales and progressively greater project and recurring revenue Year six-months 15-months ended ended ended % 31 March 30 September 31 March period 2016 2015 2015 on period audited unaudited* audited growth GBP'000 GBP'000 GBP'000 Licence sales 2,974 1,448 1,927 54% Projects 10,666 4,768 6,146 74% Recurring income 4,969 2,254 4,766 4% GBP18,609 GBP8,470 GBP12,839 45%
Peter Simmonds, Chairman, IS Solutions commented:
"Our business is driven totally by data - the Group is operating in a market where business intelligence and analytics is one of the fastest and exciting growing software markets and with our extensive technical 'know-how' and skills base we are able to further build on our current market position within the data solutions arena both in the domestic and overseas markets."
"Over the last twelve months, we have seen strong demand for our offering across both brands which has manifested in the number of major projects being secured with new and existing customers operating within the retail and financial services sectors. In addition, these new projects, will generate recurring revenue, which is very reassuring in terms of cashflow and working capital. It is encouraging to report that in 2016 demand continues for our services; we are in dialogue on a number of other exciting projects and this underpins our confidence in our pipeline of prospects."
IS Solutions Plc
Accreditation: ISO27001; PCI (DSS)
Established in 1985, IS Solutions is a data solutions company focusing on three revenue streams, namely license sales, projects and recurring revenue. The acquisition of Celebrus Technologies has further strengthened its position as a leading player in the field of Analytics which is now its fastest growing sector. Specifically, IS Solutions specialises in bringing together a range of components from various technology vendors to create unified systems for end-user clients. The business employs 120 staff, including 3 in the US and 28 in Chennai, India, who provide sales, product development and support skills. It also has a strong blue chip client base which includes Toyota and Toshiba as well as Saga, NHS, Compare The Market(TM), URENCO, Marks & Spencer and HSBC.
SOURCE IS Solutions Plc