29 April 2013
Fusionex, an award-winning and market leading international provider of enterprise software solutions and related services, is pleased to provide the following trading update for the six months ended 31 March 2013.
Fusionex continues to perform well and has delivered a solid start to the financial year with revenue of circa MYR 18 million for the period, representing a growth of more than twenty five percent compared to the same period last year. The Company continues to focus on its strategy for growth, consistent with the commitments made at IPO.
During the period, the Group expanded into Hong Kong and increased its presence in Malaysia with the acquisition of a new office space to support its increased R&D and sales and marketing efforts.
New customer wins in the six months to 31 March 2013 include a new client from Australia, two large ASEAN retail chains, one of Malaysia’s largest property developers and a large regional travel and hospitality group. In addition, the Group secured a multi-million dollar maintenance contract as well as a million dollar contract with a client from the financial services industry based in Asia.
The Group has strengthened its Enterprise Sales Team through the hiring of two new sales people. These new hires will be focused on customer generation in existing markets as well as new markets. Furthermore, Fusionex has appointed Mr Edward Lim as the new Regional Director for the Asia Pacific region. Mr Lim has more than 20 years of experience in the information technology sector, having worked in senior positions at Accenture Singapore, Sage and IDA prior to joining Fusionex. Mr Lim will play a key part in developing the Group’s presence in this region.
Development of the Group’s Big Data Business Intelligence Centre remains on track and is expected to launch by the end of the year. The Group has also successfully increased its Product R&D team by thirty percent.
The Board remains confident that the continued investment in sales and development teams will continue to accelerate growth, and management is confident that results for the six months ended 31 March will be in line with market expectations. The Board is also pleased to have paid a dividend of MYR4.3 million to shareholders on 28 January 2013.
The Group expects to announce interim results for the six months ended 31 March by end May 2013.
For further details:
FusionexIvan Teh, Chief Executive Officer
Yuen Choong Lai, Chief Financial Officer
Panmure GordonGiles Stewart, Fred Walsh, Grishma Patel (Investment Banking)
Tom Nicholson, Charles Leigh-Pemberton (Corporate Broking)
020 7886 2500
BuchananJeremy Garcia, Gabriella Clinkard www.buchanan.uk.com
020 7466 5000