Lombard Risk Annual Revenues Up 32%
For the full year 2011, the company posted a gross profit of Â£11.71m, compared to Â£8.77m for the same period in 2010. EBITDA was Â£0.7m, compared to (Â£1.3m) for the same period in 2010.
Profit for the year from continuing operations was Â£1.27m, compared to loss from continuing operations of Â£1.58m for the same period in 2010. Profit before taxation was Â£0.6m (2010: loss of Â£1.6m) and profit after taxation was Â£1.3m (2010: loss of Â£1.6m).
According to the company, the strong growth in profit after taxation is partly because of the inclusion of a Â£0.7m deferred tax asset arising from the likely realisation of some of our tax losses. It should be stressed that this does not recognise the total after tax benefit of our tax losses which still totalled Â£1.4m at the end of March 2011.
John Wisbey, CEO of the company, said: â€œThe company has made great progress in the year and is now well positioned, profitable and cash generative. Moreover we believe that there are good opportunities to advance the business performance even further in the coming year which we enter with a strong sales pipeline, leading-edge products, a strengthened management team, an appropriately structured cost base and a strong balance sheet.â€
Looking ahead, the company will continue to expand its core businesses by improved product functionality, smarter technology solutions and increased geographic reach. The aim of this strategy is to deliver significant and sustainable turnover and earnings growth over the next five years.
Lombard Risk Management is a provider of collateral management, liquidity and regulatory reporting and compliance solutions for the financial services industry.
Will the company post better results in 2012?
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