http://www.proactiveinvestors.co.uk Proactiveinvestors RSS feed en Tue, 27 Jun 2017 06:28:49 +0100 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[RNS press release - Holding(s) in Company ]]> http://www.proactiveinvestors.co.uk/companies/rns/170525egs2208g/ Thu, 25 May 2017 08:49:00 +0100 http://www.proactiveinvestors.co.uk/companies/rns/170525egs2208g/ <![CDATA[Media files - 'Our time was always going to come' - eg solutions' Elizabeth Gooch ]]> http://www.proactiveinvestors.co.uk/companies/stocktube/7518/-our-time-was-always-going-to-come-eg-solutions-elizabeth-gooch-7518.html Tue, 23 May 2017 15:41:00 +0100 http://www.proactiveinvestors.co.uk/companies/stocktube/7518/-our-time-was-always-going-to-come-eg-solutions-elizabeth-gooch-7518.html <![CDATA[RNS press release - Result of AGM ]]> http://www.proactiveinvestors.co.uk/companies/rns/170523egs0037g/ Tue, 23 May 2017 14:45:00 +0100 http://www.proactiveinvestors.co.uk/companies/rns/170523egs0037g/ <![CDATA[News - eg solutions' 2017 order book already trumps 2016's ]]> http://www.proactiveinvestors.co.uk/companies/news/178182/eg-solutions-2017-order-book-already-trumps-2016-s-178182.html Back office workforce optimisation software pioneer eg solutions PLC (LON:EGS) has continued the strong trading of the second half of 2016 into 2017.

At today’s annual general meeting (AGM) chairman Nigel Payne will tell shareholders that contracted revenues for the current financial year are already in excess of the revenues for the previous financial year.

“We have clear visibility of our full year targets,” Payne’s AGM statement says.

"The business continues to gain market share by implementing our focused strategy of direct sales and distribution via our in-house resources and global partners and the board looks forward to the future with confidence."

Shares in eg shot up 20% on the statement. and chief executive Elizabeth Gooch said the improvement reflected growth in the Asia-Pacific region, larger customers and and growing repeat revenues.

"We now start each year with a healthy backlog of orders."

WATCH: 'Our time was always going to come' - eg solutions' Elizabeth Gooch

--updates for interview, share price --

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Tue, 23 May 2017 09:02:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/178182/eg-solutions-2017-order-book-already-trumps-2016-s-178182.html
<![CDATA[RNS press release - AGM Statement ]]> http://www.proactiveinvestors.co.uk/companies/rns/170523egs9318f/ Tue, 23 May 2017 07:17:00 +0100 http://www.proactiveinvestors.co.uk/companies/rns/170523egs9318f/ <![CDATA[RNS press release - Notice of AGM ]]> http://www.proactiveinvestors.co.uk/companies/rns/170427egs4753d/ Thu, 27 Apr 2017 07:00:00 +0100 http://www.proactiveinvestors.co.uk/companies/rns/170427egs4753d/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> http://www.proactiveinvestors.co.uk/companies/rns/170426egs3289d/ Wed, 26 Apr 2017 07:00:00 +0100 http://www.proactiveinvestors.co.uk/companies/rns/170426egs3289d/ <![CDATA[RNS press release - Holding(s) in Company ]]> http://www.proactiveinvestors.co.uk/companies/rns/170420egs8245c/ Thu, 20 Apr 2017 07:00:00 +0100 http://www.proactiveinvestors.co.uk/companies/rns/170420egs8245c/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> http://www.proactiveinvestors.co.uk/companies/rns/170419egs7737c/ Wed, 19 Apr 2017 16:25:00 +0100 http://www.proactiveinvestors.co.uk/companies/rns/170419egs7737c/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> http://www.proactiveinvestors.co.uk/companies/rns/170331egs1675b/ Fri, 31 Mar 2017 10:31:00 +0100 http://www.proactiveinvestors.co.uk/companies/rns/170331egs1675b/ <![CDATA[News - Back office software specialist eg solutions lands US$2.7mln contract ]]> http://www.proactiveinvestors.co.uk/companies/news/175740/back-office-software-specialist-eg-solutions-lands-us27mln-contract-175740.html eg solutions PLC (LON:EGS), the back-office workforce optimisation company, has landed a US$2.7mln, three-year contract with an unnamed global bank.

The deal will see company will deploy its work manager data capture product to gain “real-time operational visibility and insights into the execution of its processes”.

The contract begins immediately with US$1.9mln likely to be recognised in this year’s accounts.

A “delighted” Elizabeth Gooch, chief executive, said the award demonstrated the company’s ability to work for multinational companies across a number of different countries.  It also increased eg’s UK and global presence, she added. 

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Fri, 31 Mar 2017 07:54:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/175740/back-office-software-specialist-eg-solutions-lands-us27mln-contract-175740.html
<![CDATA[RNS press release - Holding(s) in Company ]]> http://www.proactiveinvestors.co.uk/companies/rns/170328egs6637a/ Tue, 28 Mar 2017 07:00:00 +0100 http://www.proactiveinvestors.co.uk/companies/rns/170328egs6637a/ <![CDATA[RNS press release - Holding(s) in Company ]]> http://www.proactiveinvestors.co.uk/companies/rns/170327egs6351a/ Mon, 27 Mar 2017 13:39:00 +0100 http://www.proactiveinvestors.co.uk/companies/rns/170327egs6351a/ <![CDATA[News - Multiple contract wins drive record 2016 results for eg solutions after a strong second-half ]]> http://www.proactiveinvestors.co.uk/companies/news/175218/multiple-contract-wins-drive-record-2016-results-for-eg-solutions-after-a-strong-second-half-175218.html A strong second half for EG Solutions plc (LON:EGS) ensured 2016 was a record-breaking year for the back-office workforce optimisation specialist helped by multiple contract wins.

The AIM-listed group reported adjusted underlying earnings (EBITDA) of £1.2mln for the year ended 31 January 2017, up 52% on the £0.8m reported a year earlier.

Full-year revenues rose by 8% to £8.2mln, up from £7.6mln in 2016, boosted by a leap in second-half revenues to £5.7mln.

Revenues for the first six months dipped to £2.5mln from £3.6mln a year earlier, but a beefed up sales team helped to steady the ship as it moved into the second half.

WATCH: CEO Gooch on why she's 'delighted' with business performance …

Elizabeth Gooch, eg Solutions’ CEO said: “I am delighted with the performance of the business, particularly in the second half of the year.“

She added: “Our realigned strategy of focusing on sales and distribution channels is paying great dividends. We have over the past few months delivered multiple new contract wins, expanded our international business, increased our partner distribution channel and achieved sales of our new mobile platform.”

Gooch concluded: “There is real momentum within the business and I look forward to the new financial year with confidence."

Eg’s full-year results highlighted a strong contracted forward order book with recurring revenues of £18.55mln, up from £17.40mln in 2016.

The firm pointed out that its International Direct and Partner business now accounts for 37% of revenues, up from  24% in 2016, with three new partners signed giving a revenue stream of £1.45mln, 18% of total revenues, ahead from £0.34m or 4% in 2016.

Multiple contracts …

In mid-February, eg Solutions revealed it had won a new contract worth £692,000.to supply its eg operational intelligence software to a public sector organisation.

The contract was the first to be won under a new partnership agreement with the provider of eg’s managed cloud service platform, CGI.

That deal came just days after eg also revealed it had signed a master services agreement with a leading business process outsourcer (BPO), which will market eg operational intelligence software to utilities firms to help improve operational performance.

The group said that tie-up with the BPO had already yielded an immediate deployment of licences with the UK’s largest energy supplier, which was worth in the region of £762,000.

In November last year  revealed it won its first mobile and multilingual back office optimisation contract with a new retail energy company, which it said was worth £1.3mln in revenues to eg, with £0.25mln of that recognised in the financial year just gone.

And in October eg bagged a 'landmark' contract in the Asia Pacific region worth around £0.5mln, which was the first contract signed directly in the region, rather than through its partnership with US company, Aspect Software.

That deal was with a financial services company that has its headquarters in Singapore, and saw the deployment of the eg operational intelligence software suite within the client’s Consumer Banking division.

Around half of the £500,000 contract value was expected to be recognised in the current financial year, eg said at the time.

Good performance trailed …

In a trading update in February, which trailed the good full-year performance, eg’s chairman Nigel Payne said: "The second half of the financial year was busy and the board is encouraged by the company's performance.

“We are delighted with the successful signing of a number of high-profile contracts and our pipeline as we enter the new financial year is strong.”

In a note at the same time, finnCap analyst Lorne Daniel: “The good news on second half trading is accompanied by a significant broadening of eg solutions’ channels and a record £18.5m order book which will see the momentum continue into [the current financial year].

“The shares have been weighed down by fears for the second half and are now due a dramatic re-rating.”

The analyst wasn’t wrong on that, with the eg share price jumping by more than 20% on the back of February’s bullish update helping to propel in almost 50% higher over the past three months to a near 12-month peak at 64.49p today.

Daniels set a price target of 105p on eg shares back in February.

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Wed, 22 Mar 2017 12:21:00 +0000 http://www.proactiveinvestors.co.uk/companies/news/175218/multiple-contract-wins-drive-record-2016-results-for-eg-solutions-after-a-strong-second-half-175218.html
<![CDATA[News - eg Solutions sees full-year underlying profits jump by over 50% driven by record revenues in the second-half ]]> http://www.proactiveinvestors.co.uk/companies/news/175196/eg-solutions-sees-full-year-underlying-profits-jump-by-over-50-driven-by-record-revenues-in-the-second-half-175196.html eg Solutions PLC (LON:EGS) saw its full-year underlying profits jump by over 50% driven by record revenues in the second-half thanks to multiple new contract wins across many sectors and territories.

The back-office workforce optimisation company reported adjusted underlying earnings (EBITDA) of £1.2mln for the year ended 31 January 2017, up 52% on the £0.8m reported a year earlier.

Full-year revenues rose by 8% to £8.2mln, up from £7.6mln in 2016, boosted by a leap in second-half revenues to £5.7mln, versus £2.5mln in the first-half.

The adjusted numbers were stated before charging share based payments of £22,000, down from £98,000 in 2016, and non-recurring charges, including board restructuring costs, of £263,000.

WATCH: CEO Gooch on why she's 'delighted' with business performance

eg said it has a strong contracted forward order book with recurring revenues of £18.55mln, up from £17.40mln in 2016.

The firm pointed out that its International Direct and Partner business now accounts for 37% of revenues, up from  24% in 2016, with three new partners signed giving a revenue stream of £1.45mln, 18% of total revenues, ahead from £0.34m or 4% in 2016.

Real momentum …

Elizabeth Gooch, eg Solutions’ CEO said: “I am delighted with the performance of the business, particularly in the second half of the year.“

She added: “Our realigned strategy of focusing on sales and distribution channels is paying great dividends. We have over the past few months delivered multiple new contract wins, expanded our international business, increased our partner distribution channel and achieved sales of our new mobile platform.”

Gooch concluded: “There is real momentum within the business and I look forward to the new financial year with confidence."

In mid-February, eg Solutions revealed it had won a new contract worth £692,000.to supply its eg operational intelligence software to a public sector organisation.

The contract was the first to be won under a new partnership agreement with the provider of eg’s managed cloud service platform, CGI.

Potential for re-rating ...

In early afternoon trading, eg shares were 1.6%, or 1.0p higher at 63.5p.

In a note to clients, analysts at house’ broker N+1 Singer said: “This was an excellent outturn after a poor first half and attributable to an increased focus on sales and distribution in the second half.

“Revenue visibility is also improving, with repeat and recurring revenues now £4.6m (56% of total) and the contracted forward order book increasing 7% to £18.5m.”

They added: “ A reinvigorated employee base, broadened routes to markets and increasing geographic/vertical market penetration give us great confidence in the outlook.

“Consistent delivery is now required to promote what could be a potentially significant re-rating.”

--Adds share price, broker comment --

 

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Wed, 22 Mar 2017 08:00:00 +0000 http://www.proactiveinvestors.co.uk/companies/news/175196/eg-solutions-sees-full-year-underlying-profits-jump-by-over-50-driven-by-record-revenues-in-the-second-half-175196.html
<![CDATA[RNS press release - Final Results ]]> http://www.proactiveinvestors.co.uk/companies/rns/170322egs1445a/ Wed, 22 Mar 2017 07:00:00 +0000 http://www.proactiveinvestors.co.uk/companies/rns/170322egs1445a/ <![CDATA[Media files - EG Solutions' Elizabeth Gooch 'delighted with full year performance' ]]> http://www.proactiveinvestors.co.uk/companies/stocktube/7144/eg-solutions-elizabeth-gooch-delighted-with-full-year-performance--7144.html Wed, 22 Mar 2017 05:12:00 +0000 http://www.proactiveinvestors.co.uk/companies/stocktube/7144/eg-solutions-elizabeth-gooch-delighted-with-full-year-performance--7144.html <![CDATA[RNS press release - Change of Nominated Adviser and Broker ]]> http://www.proactiveinvestors.co.uk/companies/rns/170313egs2824z/ Mon, 13 Mar 2017 12:00:00 +0000 http://www.proactiveinvestors.co.uk/companies/rns/170313egs2824z/ <![CDATA[Media files - eg Solutions' Elizabeth Gooch hails 'hugely significant' public sector contract ]]> http://www.proactiveinvestors.co.uk/companies/stocktube/6938/eg-solutions-elizabeth-gooch-hails-hugely-significant-public-sector-contract-6938.html Fri, 17 Feb 2017 11:15:00 +0000 http://www.proactiveinvestors.co.uk/companies/stocktube/6938/eg-solutions-elizabeth-gooch-hails-hugely-significant-public-sector-contract-6938.html <![CDATA[News - eg solutions to supply software to public sector organisation after £0.7mln contract win ]]> http://www.proactiveinvestors.co.uk/companies/news/173246/eg-solutions-to-supply-software-to-public-sector-organisation-after-07mln-contract-win-173246.html Fresh from announcing record-breaking figures for its second half of 2016 earlier this week, eg Solutions plc (LON:EGS) revealed it has won a new contract worth £692,000.

The back office workforce optimisation specialist has inked a deal to supply its eg operational intelligence software to a public sector organisation.

Around £500,000 of the total revenue from the contract will be recognisable in the current financial year, the company said.

The contract is the first to be won under a new partnership agreement with the provider of eg’s managed cloud service platform, CGI.

The tie-up will see the two parties work together to market eg’s software to public sector organisations as well as CGI’s own clients.

“I am delighted that our partnership with GCI is now moving beyond provision of our hosting platform,” said chief executive Elizabeth Gooch.

“We expect that the promotion of our solutions both within the public sector and to GCI's existing client base will be equally successful.”

Andrew Thirkill, chief executive of CGI added: “The new contract demonstrates the ability for UK-owned technology businesses to deliver results to UKGOV organisations, and a clear departure from the giant corporation contracts of yesterday.

Earlier this week, eg told investors it expects to post record revenues of at least £5.69mln for the six months to 31 January 2017 after a refocused strategy and several contract wins provided a boost to trading.

More to follow

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Thu, 16 Feb 2017 07:26:00 +0000 http://www.proactiveinvestors.co.uk/companies/news/173246/eg-solutions-to-supply-software-to-public-sector-organisation-after-07mln-contract-win-173246.html
<![CDATA[RNS press release - First contract win through partnership with GCI ]]> http://www.proactiveinvestors.co.uk/companies/rns/170216egs0026x/ Thu, 16 Feb 2017 07:00:00 +0000 http://www.proactiveinvestors.co.uk/companies/rns/170216egs0026x/ <![CDATA[News - Record-breaking six months for eg solutions ]]> http://www.proactiveinvestors.co.uk/companies/news/173046/record-breaking-six-months-for-eg-solutions-173046.html A strong second half for EG Solutions plc (LON:EGS) ensured 2016 was a record-breaking year for the back-office workforce optimisation specialist.

The group expects to post record revenues of at least £5.69mln for the six months to January 31 2017 after a refocused strategy and several contract wins provided a boost to trading.

As a result, adjusted underlying earnings [EBITDA] for the second half should come in at more than £2mln, while eg had £3.4mln cash in the bank at the end of the period.

Pleasingly for investors, the future looks just as bright with the company’s contracted forward revenue order book at record levels of £18.5mln.

That figure has been buoyed by today’s other news that eg has signed a master services agreement with a leading business process outsourcer (BPO), which will now market eg operational intelligence software to utilities firms to help improve operational performance.

In fact, the tie-up with the BPO has already yielded an immediate deployment of licences with the UK’s largest energy supplier, which is worth in the region of £762,000.

The second half performance leaves the company confident that full-year results will be in line with market expectations.

eg will publish its results for the year to 31 January 2017 on 22 March.

Turnaround complete

As early as September, eg was guiding that it was still confident of hitting its full-year targets despite a sluggish first half.

Revenues for the first six months dipped to £2.5mln from £3.6mln a year earlier, but a beefed up sales team helped to steady the ship as it moved into the second half.

eg bagged a 'landmark' contract in the Asia Pacific region worth around £0.5mln in October, which was closely followed up by another decent deal which it announced in November.

The latter is worth £1.3mln to eg, with £0.25mln of that recognised in the financial year just gone.

The third big contract win with the UK’s largest energy supplier was announced this morning (February 13) along with the update.

That tie-up was secured after eg signed a master services agreement with a “leading BPO”. Importantly, this opens up eg’s offering to a host of new potential clients which could help bolster an already bloated order book.

What the chairman said…

“At the beginning of the second half of the financial year, the board embarked upon a strategy to profitably scale the business through increased focus on sales, broadening and increasing the Company's distribution channels and efficiency deploying internal resources,” said non-executive chairman Nigel Payne.

"I could not be more pleased with how the chief executive [Elizabeth Gooch] and her management team have embraced and risen to this challenge. The management team is highly focused and there is now real momentum within the business whilst at the same time our customers continue to provide excellent feedback on our products.

"The second half of the financial year was busy and the board is encouraged by the company's performance. We are delighted with the successful signing of a number of high-profile contracts and our pipeline as we enter the new financial year is strong.”

What the brokers said…

“The first half had been relatively weak which had led to some investor concern for the full-year forecast however the company placed its faith in a strong order book which it has clearly delivered,” said finnCap analyst Lorne Daniel.

“From £2.5m in the first half, sales have doubled to at least £5.7m in the second half, meeting full-year hopes of £8.2m, up 8% on last year.

“Margins have also been impressive; full-year adjusted EBITDA [underlying earnings] will be at least £1.2m, on track for our £1.3m forecast, and leaving an impressive £2.4m cash balance at year end.

“The good news on second half trading is accompanied by a significant broadening of eg solutions’ channels and a record £18.5m order book which will see the momentum continue into [the current financial year].

“The shares have been weighed down by fears for the second half and are now due a dramatic re-rating.”

Spot on with ‘dramatic re-rating’ call

The analyst wasn’t wrong either, with the eg share price jumping by more than 20% on the back of the bullish update.

The share price stood at 49.5p shortly before lunch on 13 February, giving eg a market capitalisation of £11.5mln.

The rally also takes the share price back to where it was this time last year and now that it’s back on an even keel, eg is set to push on according to finnCap’s Daniels.

The analyst is tipping the stock to double over the coming months, setting a target of 105p.

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Mon, 13 Feb 2017 07:42:00 +0000 http://www.proactiveinvestors.co.uk/companies/news/173046/record-breaking-six-months-for-eg-solutions-173046.html
<![CDATA[RNS press release - Trading Update & Master Services Agreement Signed ]]> http://www.proactiveinvestors.co.uk/companies/rns/170213egs6710w/ Mon, 13 Feb 2017 07:00:00 +0000 http://www.proactiveinvestors.co.uk/companies/rns/170213egs6710w/ <![CDATA[News - EG Solutions to keep non-exec on board ]]> http://www.proactiveinvestors.co.uk/companies/news/171076/eg-solutions-to-keep-non-exec-on-board-171076.html EG Solutions PLC (LON:EGS) has told investors that non-executive director Bob Krakauer will remain part of the board, despite him stepping down as chief financial officer of Aspect Software Inc.

Krakauer was originally appointed to eg’s board back in August 2015 as a representative of Aspect which has a 9.5% stake in the back office work optimisation specialist.

Even though he has now left Arizona-based Aspect, he will continue in his non-exec role because of his “substantial experience in global technology companies”, eg said.

As a result of him cutting his ties with Aspect, he will now be considered an independent non-executive director.

eg said it is no longer obliged to have a representative from Aspect on its board and so won’t be replacing Krakauer.

eg and Aspect have been involved with one another for almost four years and have a strategic partnership and a re-seller agreement in place.

Shares closed up slightly on Friday to trade at 41p.

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Tue, 03 Jan 2017 07:41:00 +0000 http://www.proactiveinvestors.co.uk/companies/news/171076/eg-solutions-to-keep-non-exec-on-board-171076.html
<![CDATA[RNS press release - Re Director ]]> http://www.proactiveinvestors.co.uk/companies/rns/170103egs1255t/ Tue, 03 Jan 2017 07:00:00 +0000 http://www.proactiveinvestors.co.uk/companies/rns/170103egs1255t/ <![CDATA[Media files - eg solutions PLC celebrating milestone contract ]]> http://www.proactiveinvestors.co.uk/companies/stocktube/6395/eg-solutions-plc-celebrating-milestone-contract-6395.html Tue, 15 Nov 2016 11:03:00 +0000 http://www.proactiveinvestors.co.uk/companies/stocktube/6395/eg-solutions-plc-celebrating-milestone-contract-6395.html <![CDATA[News - eg solutions' new contract win to provide revenue immediately ]]> http://www.proactiveinvestors.co.uk/companies/news/168986/eg-solutions-new-contract-win-to-provide-revenue-immediately-168986.html eg solutions PLC (LON:EGS) has won its first mobile and multilingual back office optimisation contract with a new retail energy company, which will provide revenue immediately.

eg said it will install its eg operational intelligence software suite and eg mobile across around 500 back office, call centre and sales staff in Europe to support the unnamed group's customer service.

Revenue under the contract stands at £1.3mln, with around £250,000 to be recognised in the current financial year.

WATCH: CEO Elizabeth Gooch speaks with Proactive's Andrew Scott

eg solutions' chief executive Elizabeth Gooch said: "I am delighted to announce this new contract win which will utilise the full capabilities of eg operational intelligence in multiple territories and languages.

"Our recently launched eg mobile software will also provide dashboards, alerts and notifications for operational managers on the move, providing true insight into the full customer service process and promoting world-class operational management capabilities across the group".

Notably, there is the potential to expand the roll-out to other companies within this energy supplier's wider group.

AIM- listed eg says it has developed the most complete, purpose built workforce optimisation software for back offices - the only solution that manages work, people and end-to-end processes wherever they are undertaken.

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Tue, 15 Nov 2016 07:24:00 +0000 http://www.proactiveinvestors.co.uk/companies/news/168986/eg-solutions-new-contract-win-to-provide-revenue-immediately-168986.html
<![CDATA[RNS press release - New Contract Win ]]> http://www.proactiveinvestors.co.uk/companies/rns/161115egs1528p/ Tue, 15 Nov 2016 07:00:00 +0000 http://www.proactiveinvestors.co.uk/companies/rns/161115egs1528p/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> http://www.proactiveinvestors.co.uk/companies/rns/161101egs9167n/ Tue, 01 Nov 2016 07:00:00 +0000 http://www.proactiveinvestors.co.uk/companies/rns/161101egs9167n/ <![CDATA[Media files - eg Solutions hails first Asia Pacific deal ]]> http://www.proactiveinvestors.co.uk/companies/stocktube/6273/eg-solutions-hails-first-asia-pacific-deal-6273.html Thu, 27 Oct 2016 15:13:00 +0100 http://www.proactiveinvestors.co.uk/companies/stocktube/6273/eg-solutions-hails-first-asia-pacific-deal-6273.html <![CDATA[News - eg solutions snags landmark Asia Pacific deal ]]> http://www.proactiveinvestors.co.uk/companies/news/168126/eg-solutions-snags-landmark-asia-pacific-deal-168126.html eg solutions PLC (LON:EGS), the back-office workforce optimisation company, has bagged a contract in the Asia Pacific region worth around £500,000.

It is the first contract it has signed directly in the region, rather than through its partnership with US company, Aspect Software.

The landmark contract is with a financial services company that has its headquarters in Singapore, and will see the deployment of the eg operational intelligence software suite within the client’s Consumer Banking division.

It follows a successful proof of concept project, conducted earlier this year, when integration with the client’s existing workflow systems was completed. The UK company said there is imminent potential for this contract to be expanded further.

Around half of the £500,000 contract value is expected to be recognised in the current financial year, eg said.

“I am pleased to be able to announce this landmark deal which demonstrates the world class capabilities of the eg operational intelligence software suite. As we reported in our interim statement, we have a promising pipeline of new business opportunities across five channels including international expansion, and the board looks forward to providing further updates in due course,” said Elizabeth Gooch, chief executive and founder of eg solutions.

 

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Thu, 27 Oct 2016 07:00:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/168126/eg-solutions-snags-landmark-asia-pacific-deal-168126.html
<![CDATA[Media files - eg Solutions looking forward to a productive second half after contract wins ]]> http://www.proactiveinvestors.co.uk/companies/stocktube/6016/eg-solutions-looking-forward-to-a-productive-second-half-after-contract-wins-6016.html Wed, 21 Sep 2016 12:00:00 +0100 http://www.proactiveinvestors.co.uk/companies/stocktube/6016/eg-solutions-looking-forward-to-a-productive-second-half-after-contract-wins-6016.html <![CDATA[News - EG Solutions expects to recover from slow start ]]> http://www.proactiveinvestors.co.uk/companies/news/166215/eg-solutions-expects-to-recover-from-slow-start-166215.html Back office software specialist eg Solutions (LON:EGS) said it was confident of meeting market forecasts this year despite a slow start.

Revenues in the six months to July dipped to £2.5mln from £3.6mln, but a number of new contracts were won in the final months of the half and the order book is now worth £16.2mln.

EG’s US partner Aspect has also started to recover after a financial restructuring and picked up three new contracts including one with a leading social network organisation.

Reflecting the lower revenues, interim losses rose to £1.51mln (£0.33mln) and cash dipped to £1.7mln from £3.06mln.

Elizabeth Gooch, chief executive, said she was encouraged by the increase in contract wins towards the end of the first half and the strong pipeline of new business.

A critical review of the business had also shown its products to be industry leaders in a back office software sector expected to develop strongly in coming years.

An internal restructure has seen the sales team beefed up to increase revenues.

Gooch added: “The board has set a medium term target of growing revenues to £12m over the next two financial years and is focused on ensuring that the company's infrastructure is right-sized to meet this objective.

“The company's business model provides a high degree of operating leverage such that approximately 30% of incremental sales are expected to flow through to EBITDA.”

“As a result of improved operational efficiency, the year-end EBITDA outturn is anticipated to be in line with market expectations on lower revenues.”

House broker finncap the first half was poor first half financially but encouraging operationally especially the groundbreaking deal with 'the world’s leading social network'.

Contracts from the UK’s largest life assurance fund; a proof-of concept with a major Singapore financial services group and various repeat orders make the second half a matter of delivery, added the broker.

While the broker has reduced its revenue expectations it raised earnings and now expects and underlying [EBITDA] £1.3mln for the full year. Its target price remains 105p.

Shares eased 7% to 50p.

--update for broker comment and share price--

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Wed, 21 Sep 2016 07:29:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/166215/eg-solutions-expects-to-recover-from-slow-start-166215.html
<![CDATA[RNS press release - Half Yearly Report ]]> http://www.proactiveinvestors.co.uk/companies/rns/160921egs3821k/ Wed, 21 Sep 2016 07:00:00 +0100 http://www.proactiveinvestors.co.uk/companies/rns/160921egs3821k/ <![CDATA[Media files - EG Solutions plc big US contract to deal with the negative side of social media ]]> http://www.proactiveinvestors.co.uk/companies/stocktube/5418/eg-solutions-plc-big-us-contract-to-deal-with-the-negative-side-of-social-media-5418.html Thu, 18 Aug 2016 16:11:00 +0100 http://www.proactiveinvestors.co.uk/companies/stocktube/5418/eg-solutions-plc-big-us-contract-to-deal-with-the-negative-side-of-social-media-5418.html <![CDATA[News - eg solutions secures US$1mln contract win ]]> http://www.proactiveinvestors.co.uk/companies/news/129452/eg-solutions-secures-us1mln-contract-win-129452.html EG Solutions plc (LON:EGS) has secured a US$1mln contract to supply its back office optimisation software to a “leading social networking corporation”.

The three-year deal, closed by eg’s partner Aspect Software Inc, will see the firm deploy up to 4,000 licences, with the potential for more to be sold in the future.

“This landmark contract win by Aspect, with one of the world's top ten technology disruptors, demonstrates the capability and contribution of our software across a wide range applications and sectors,” said eg’s chief executive Elizabeth Gooch.

“We are helping more of our customers to improve customer experience, workforce engagement, security and compliance.”

The Aspect/eg team was selected after impressing the client in a proof of concept project earlier in the year.

The win is Aspect’s third with the eg operational intelligence suite since March this year, after it previously closed two more contracts with a life and pensions provider and a health insurer in the US.

The deal provides further encouragement that the Aspect relationship is delivering, said broker N+1 Singer.

"Confirmation of a strong order book suggests more deals to come. We make no changes to our forecasts and stay at Buy with [the] stock trading on PE [price/earnings ratio] of 21.7x January 2017 and 16.8x 2018," it added.

House broker finnCap said the contract win helps to underpin the expected revenue growth. The broker is forecasting sales to rise to £9.5mln in the current financial year from £7.6mln last year, before advancing to £11.6mln the following year.

The deal also highlights new opportunities, in finnCap’s view.

“In this case, the operational intelligence software will be used to improve management of work and resources in the high-volume, rapidly changing and information‐sensitive, service request units of a major global technology disruptor. This is a new and innovative usage of eg’s solutions and reflects recent interesting requests and opportunities alongside its traditional market of service sector back office. This is opening up opportunities in areas like chat-bot routing and escalations, workforce optimisation, field service management and even document management,” the broker said.

The broker conceded that Aspect had struggled in the USA to sell eg’s back-office optimisation software to the 3,400 customers that use Aspect’s front-office software, though it has had more success in Asian markets.

Much was expected of the partnership with Aspect when it was forged in 2014 “but it has been a slow burn”, finnCap said, and looked like it might stop burning altogether when Aspect took protection from its creditors in March in order to restructure its debt.

“However, since it came out of that in May, Aspect seems much more focused and has brought in notable new business culminating in this large deal. There is a huge opportunity for eg's products in the US and this could represent a major turning point in the relationship,” suggested Lorne Daniel at finnCap.

Shares in eg Solutions rose to 49p this morning from 44p overnight, before ebbing to 45p, up 2.3% on the day.

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Thu, 18 Aug 2016 08:03:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/129452/eg-solutions-secures-us1mln-contract-win-129452.html
<![CDATA[RNS press release - New Contract Win ]]> http://www.proactiveinvestors.co.uk/companies/rns/160818egs5161h/ Thu, 18 Aug 2016 07:00:00 +0100 http://www.proactiveinvestors.co.uk/companies/rns/160818egs5161h/ <![CDATA[News - EG solutions appoints new CFO ]]> http://www.proactiveinvestors.co.uk/companies/news/127783/eg-solutions-appoints-new-cfo-127783.html Back office software optimisation firm EG Solutions plc (LON:EGS) has appointed Michael Woolley as the company’s new chief financial officer, who will step into his new position with immediate effect.

He will replace Jonathan Kay who tendered his resignation last month.

Woolley joined EG back in November 2014 as financial controller, after previously being the senior management accountant at Pets at Home Group PLC (LON:PETS), overseeing the pet retailer’s IPO back in 2014.

“Michael's appointment further strengthens the newly formed Board and we are pleased with the progress he continues to make to the financial and operational performance of EG,” said chief executive Elizabeth Gooch.

Woolley’s appointment is the latest in a series of board changes at EG.

Last month, Nigel Payne replaced Duncan McIntyre as the new non-executive chairman, while City veteran George Rolls was appointed non-executive director, taking over from the outgoing Mark Brady and John Brougham.

The board changes came after the company issued a profit warning in June.

which said trading performance and cash generation in the first half will be lower than what the firm had anticipated.

Last month, the software company told investors it is retaining its previous guidance for 2016, but trading for the first half of the year is now expected to be lower than previously anticipated.

It explained that cash generation for the first six months was also lower than anticipated, but it expects a better performance in the second half which will offset the shortfall in the first half.

Shares closed on Friday at 51p.

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Mon, 04 Jul 2016 07:35:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/127783/eg-solutions-appoints-new-cfo-127783.html
<![CDATA[RNS press release - Appointment of Chief Financial Officer ]]> http://www.proactiveinvestors.co.uk/companies/rns/160704egs0663d/ Mon, 04 Jul 2016 07:00:00 +0100 http://www.proactiveinvestors.co.uk/companies/rns/160704egs0663d/ <![CDATA[News - City veteran George Rolls joins eg solutions board as non-exec ]]> http://www.proactiveinvestors.co.uk/companies/news/127236/city-veteran-george-rolls-joins-eg-solutions-board-as-non-exec-127236.html Back office software optimisation company eg solutions (LON:EGS) has added City veteran George Rolls to the board as a non-executive director.

Over the last 30 years, Rolls, who co-founded City firm Beaufort Securities, has been a director, manager and adviser to a number of public and private companies in a variety of sectors including technology, publishing and print media, consumer products, aviation, low tech manufacturing and real estate.

He has sat on the boards of a number of AIM-listed companies in a senior independent non-executive capacity, including Gama Aviation PLC and Totally PLC.

"In addition to being highly experienced director of public companies, George brings with him a wealth of contacts across a broad range of sectors,” said non-executive chairman Nigel Payne, who himself only joined the board of eg solutions at the beginning of the week.

"George's insight will be invaluable to us as the company continues to pursue its growth strategy,” he added.

The latest appointment is a continuation of a freshening up of the board at the company, after previous chairman Duncan McIntyre plus two other non-executive directors, Mark Brady and John Brougham, tendered their resignations this week.

Chief financial officer Jonathan Kay will also be departing after a hand-over period.

 

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Fri, 17 Jun 2016 08:27:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/127236/city-veteran-george-rolls-joins-eg-solutions-board-as-non-exec-127236.html
<![CDATA[RNS press release - Appointment of Non-Executive Director ]]> http://www.proactiveinvestors.co.uk/companies/rns/160617egs4769b/ Fri, 17 Jun 2016 07:00:00 +0100 http://www.proactiveinvestors.co.uk/companies/rns/160617egs4769b/ <![CDATA[RNS press release - Appointment of Non-Executive Chairman ]]> http://www.proactiveinvestors.co.uk/companies/rns/160615egs2052b/ Wed, 15 Jun 2016 07:00:00 +0100 http://www.proactiveinvestors.co.uk/companies/rns/160615egs2052b/ <![CDATA[News - Changing of the guard at eg solutions ]]> http://www.proactiveinvestors.co.uk/companies/news/127026/changing-of-the-guard-at-eg-solutions-127026.html Nigel Payne, former chief executive officer of Sportingbet is to move into the chair at back  office optimisation software company eg solutions PLC (LON:EGS).

Payne, who is non-executive chairman of Stride Gaming PLC (LON:STR) and law firm Gately Holdings PLC (LON:GTLY), will take over as non-executive chairman from Duncan McIntyre, who had tendered his resignation.

Also departing from the board are non-executive directors Mark Brady and John Brougham, while chief financial officer Jonathan Kay will also be departing once he has finished handing over responsibilities and bedding in his replacement.

"The board would like to take this opportunity to thank Duncan, Mark, John and Jonathan for their contributions to the company and wishes them well with their future endeavours,” said Elizabeth Gooch, the chief executive and founder of eg solutions.

“We are delighted that Nigel is intending to join us as our new chairman. Nigel will bring highly relevant experience in the technology and capital markets industries, which will enable him to make an excellent contribution to the board at an exciting time for the company. It is a vote of confidence that he intends to be a part of our team and we look forward to working with him," she added.

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Mon, 13 Jun 2016 07:36:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/127026/changing-of-the-guard-at-eg-solutions-127026.html
<![CDATA[RNS press release - Board Changes ]]> http://www.proactiveinvestors.co.uk/companies/rns/160613egs9384a/ Mon, 13 Jun 2016 07:00:00 +0100 http://www.proactiveinvestors.co.uk/companies/rns/160613egs9384a/ <![CDATA[News - Eg Solutions sticking to full year guidance for 2016 ]]> http://www.proactiveinvestors.co.uk/companies/news/126920/eg-solutions-sticking-to-full-year-guidance-for-2016-126920.html Eg Solutions Plc (LON:EGS) told investors it is retaining its previous guidance for 2016, but trading for the first half of the year is now expected to be lower than previously anticipated.

The back office optimisation software group said cash generation for the first six months would also be lower than previously anticipated, but, it expects a better performance in the second half which will offset the shortfall in the first half.

The company added that it is expecting large deal developments with channel partners and talks with customers are continuing to progress positively.

“We have continued to drive the investment programme started last year and remain committed to developing our sales and marketing capability and investing in our product to deliver on the clear and substantial market opportunity,” the company said in a statement.

WATCH: Cloud and mobile services key to order book growth for eg Solutions IN DEPTH: eg solutions to return to earnings growth this year

Last month, eg solutions revealed a boost as its major shareholder and distribution partner Aspect Software had completed a financial restructuring and had emerged from Chapter 11 bankruptcy.

It was good news for eg solutions, because not only is Aspect a 9% shareholder in eg, it is also a strategic partner that re-sells eg’s product.

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Thu, 09 Jun 2016 07:23:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/126920/eg-solutions-sticking-to-full-year-guidance-for-2016-126920.html
<![CDATA[RNS press release - Trading Update ]]> http://www.proactiveinvestors.co.uk/companies/rns/160609egs7046a/ Thu, 09 Jun 2016 07:00:00 +0100 http://www.proactiveinvestors.co.uk/companies/rns/160609egs7046a/ <![CDATA[News - eg solutions boosted by strategic partner's restucturing ]]> http://www.proactiveinvestors.co.uk/companies/news/126445/eg-solutions-boosted-by-strategic-partner-s-restucturing-126445.html Back office optimisation software pioneer eg solutions plc (LON:EGS) has noted that its major shareholder and distribution partner Aspect Software has completed its financial restructuring.

The US call centre software company entered so-called Chapter 11 bankruptcy, which affords a company protection from its creditors while it reorganises.

Aspect has emerged from Chapter 11 after successfully obtaining approval from the US Bankruptcy court.

Its pre-arranged agreement approved by the court will result in the reduction of more than US$320mln of debt, plus new secured financing and fresh convertible debt capital to facilitate growth.

This spells good news for eg solutions, because not only is Aspect a 9% shareholder in eg with a seat on the board, it is also a strategic partner that re-sells eg’s product.

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Thu, 26 May 2016 14:41:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/126445/eg-solutions-boosted-by-strategic-partner-s-restucturing-126445.html
<![CDATA[RNS press release - Re Aspect Software Inc. ]]> http://www.proactiveinvestors.co.uk/companies/rns/160526egs4353z/ Thu, 26 May 2016 14:12:00 +0100 http://www.proactiveinvestors.co.uk/companies/rns/160526egs4353z/ <![CDATA[RNS press release - Result of AGM ]]> http://www.proactiveinvestors.co.uk/companies/rns/160517egs4799y/ Tue, 17 May 2016 11:30:00 +0100 http://www.proactiveinvestors.co.uk/companies/rns/160517egs4799y/ <![CDATA[RNS press release - Holding(s) in Company ]]> http://www.proactiveinvestors.co.uk/companies/rns/160504egs2665x/ Wed, 04 May 2016 15:31:00 +0100 http://www.proactiveinvestors.co.uk/companies/rns/160504egs2665x/