eg Solutions chief adamant growth targets are achievable

Last updated on: October 28, 2016, Author: Editorial Team

eg Solutions chief adamant growth targets are achievable

THE chief executive of Staffordshire software firm eg solutions has said its ambitious growth target is achievable.

The back office software specialist has said its medium term aim is to grow revenue by £12m over the next two financial years.

The business starts from a low ebb with latest interims showing half year losses widening to £1.5m.

Nevertheless, Elizabeth Gooch was in typically bullish mood when questioned on the growth strategy.

“We have had a tough year but we are confident that things will pick up in the second half and continue to get better over the next two years,” she said.

“More importantly, brokers think we can as well. We are confident of achieving £8m of business this year, which when you consider the start to the year we’ve had is quite remarkable.

“It means that we will have achieved revenue of £8.5m in just eight months and if you can continue at that rate then we will easily achieve our target.”

A strong focus on customer relation and understanding the needs of clients has been key to the plan, and Mrs Gooch said she was grateful for the loyalty shown by many of the firm’s customers.

It is now going out and looking for new business in markets such as Asia, where many financial services firms out-source their back office functions.

“While we have the emerging markets to look at, we will also be focussing our attention on the more established markets such as the United States,” said Mrs Gooch.

The latter will benefit from the firm’s agreement with partner Aspect Software.

“We have great developers, designing the products that people need so we are optimistic for the future,” she added.

In the half-year to July 31, 2016 revenue dropped to £2.5m (H1 2015: £3.6m), with losses widening to £1.5m (H1 2015: -£0.33m).