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eg solutions will meet earnings guidance on lower than predicted revenues

Published: 08:02 15 Jan 2016 GMT

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The numbers point to eg hitting its main financial target.

The technology group eg solutions (LON:EGS) said it returned to profit in the second half of the financial year as it updated on recent trading.

For the year, the business is expected to be at break-even – which is in line with market forecasts.

This, however, will be achieved on slightly lower turnover as a number of deals won’t close by the end of the month.

“The sales remain in our pipeline and under negotiation,” eg told investors.

Second-half revenues are likely to be £4mln, representing a year on year rise of 13%. For the full-year the total is expected to be £7.6mln, which, adjusting for one-off sales in the comparable period 12 months ago, represents a 16% advance.

The firm is on a financially sound footing with around £3mln in the bank and is sitting on a contracted orders of £17.1mln, up from £15.4mln last September.

eg has developed software that helps the back office of businesses work more efficiently.

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