Tuesday, October 09, 2012
IFS revises its financial outlook for 2012
For 2012, IFS expects strong organic license growth and EBIT in line with last year. The previously communicated outlook was that IFS expected strong organic license growth and improved EBIT.
“The consulting operations have continued to develop weaker than expected and though a marked improvement is expected for the remainder of the year, this will not be sufficient to fully compensate for the performance year to date” says Alastair Sorbie, president and CEO of IFS. “Focus for 2012 has been on growing the business. To do this we have significantly stepped up our investment in sales and marketing, and our partner ecosystem. Thus there has been a planned increase in costs which has affected earnings in the shorter term. However, based upon known opportunities in progress and a strong growth in the sales pipeline, we expect this will pay off in stronger sales and improved earnings going forward” continues Alastair Sorbie.
IFS’s interim report for the third quarter of 2012 will be published on October 25, 2012.
IFS is a public company (XSTO: IFS) founded in 1983 that develops, supplies, and implements IFS Applications™, a component-based extended ERP suite built on SOA technology. IFS focuses on agile businesses where any of four core processes are strategic: service & asset management, manufacturing, supply chain and projects. The company has 2,000 customers and is present in more than 60 countries with 2,800 employees in total. Net revenue in 2011 was SKr 2.6 billion.
IFS discloses the information provided herein pursuant to the Financial Instruments Trading Act (1991:980) and/or the Securities Markets Act (2007:528). The information was submitted for publication on October 9, 2012 at 8:30 p.m. (CEST).