Interim Management Statement


 

TIDMTTS 
 
RNS Number : 4577X 
Total Systems PLC 
14 August 2009 
 
 
 
14 August 2009 
 
 
Total Systems plc - Q1 Interim Management Statement 
 
Total Systems plc ("the Company") suppliers of cost effective and flexible 
software systems to the financial services industry, primarily in the insurance 
and warranty sectors is pleased to provide its Interim Management Statement for 
the quarter ended 30 June 2009. 
 
 
The Company's trading over the period from 1 April 2009 to 30 June 2009 has been 
weak with turnover significantly down on the same quarter in the previous year. 
This has resulted in a loss being made for the first quarter. 
 
 
The second quarter of our financial year is unlikely to see appreciably higher 
activity than the first quarter and it is likely that a considerable loss will 
be incurred for the half year. However, with the cost savings made in the first 
half of the year the bottom line performance for the second half of the year 
should show an improvement over the first half year. The cash position at the 
end of the first quarter has been maintained at a similar level to that reported 
in the Annual Report & Accounts. 
 
 
Existing client business is likely to be weak overall in the current financial 
year and sales prospects are expected to take longer than normal to convert to 
sales, though recent indications are that the decline in business is now 
levelling out. Activity levels are likely to increase in the second half of our 
financial year based on current information available, but by how much it is 
impossible to forecast with any accuracy. Nevertheless, turnover for the 
financial year ending 31 March 2010 is likely to be substantially less than the 
prior year. 
 
 
Total has always maintained a strong balance sheet as a counter to the inherent 
uncertainty and risks of technology markets. In the current turbulent economic 
climate this policy stands us in good stead. Our financial position remains 
healthy with no debt and reasonable cash balances to support operations. The 
Company owns its office premises outright. 
 
 
Terence Bourne and Granville Harris, the Company's chairman and finance director 
respectively will be available to take enquiries by telephone on 020 7294 4888. 
 
www.totalsystems.co.uk 
 
 
For further information please contact 
 
 
Terence Bourne, Chairman, Total Systems plc    020 7294 4888 
Granville Harris, 
Finance Director, Total Systems plc    020 7294 4888 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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