Highlights
• Revenue of £10.8m (2014: £9.3m) up 16.1%
• Order book of contracted revenue at £6.8m (2014: £5.1m)
• Bookings for the period up 48% on the previous year
• EBITDA of £0.5m (2014: £0.8m)
• Loss before tax of £1.8m (2014: profit of £0.01m)
• Loss per share of 0.66p (2014: earnings per share of 0.00p)
• Write down of £0.7m (2014: £Nil) against carrying value of capitalised research and development
• Cash at period end of £2.7m (2014: £2.2m) with no debt (2014: £0.3m)
• Equity placing to raise £4.0m completed in May 2015
• Interim dividend of 0.035p (2014: 0.035p) per Ordinary Share
• Continued investment in European Banking Authority regulatory initiatives, COLLINE® and the next generation of REPORTER
• Major new contract win through alliance partnership
• Strengthening of Board through appointment of independent Non-executive Directors
Current trading and outlook
• Regulatory change and evolution create further opportunities in H2 and into the following financial year
• Strong pipeline adds to revenue visibility from contracted or recurring revenue
Philip Crawford, Executive Chairman of Lombard Risk Management, commented: "The Board remains optimistic about the second half of the year, based on record levels of both contracted orders and recurring revenue streams. We recognise the continuing risks to our business of the impact of economic slowdown and the resulting effect on our core client base; however, we believe the continuing emphasis on regulatory change and indeed evolution represents a significant opportunity for the Company."
