Alfa Financial Software Hldgs PLC Change of corporate broker and trading update (7331S)
July 13 2020 - 01:00AM
UK Regulatory
TIDMALFA
RNS Number : 7331S
Alfa Financial Software Hldgs PLC
13 July 2020
13 July 2020
Alfa Financial Software Holdings PLC
Change of corporate broker and trading update
Alfa Financial Software Holdings PLC ("Alfa" or the "Company"),
a leading developer of mission-critical software for the asset
finance industry, today announces the appointment of Investec Bank
plc as corporate broker to work alongside existing corporate broker
Barclays Bank plc with immediate effect .
Trading in the first six months of the financial year ending 31
December 2020 has been better than expected. Demand has been
largely resilient to the pandemic. The impact of remote working has
had little impact on our operations, other than fewer holidays
being taken than normal, and as a consequence an increase in the
number of days work delivered to clients. Cash performance has
remained strong with net cash increasing in the period, further
strengthening the balance sheet.
In the second half we expect to see a catch-up of holidays being
taken by our people, and we continue to be wary of the potential
for disruption to our current work schedule and future prospects
from changes in client's priorities and plans. We remain cautiously
optimistic for the outlook for the business, although there still
remains some weakness in the early stage pipeline due to a
reduction in clients initiating projects as a result of the
pandemic, which could also impact the business in 2021.
Enquiries
Alfa Financial Software Holdings
PLC
Andrew Denton, Chief Executive
Officer
Duncan Magrath, Chief Financial
Officer +44 (0)20 7588 1800
Tulchan Communications LLP
James Macey White
Matt Low +44 (0)20 7353 4200
Notes to Editors
Alfa has been delivering systems and consultancy services to the
global asset and automotive finance industry since 1990. Our best
practice methodologies and specialised knowledge of asset finance
facilitates our delivery of large software implementations and
highly complex business change projects. With an excellent delivery
history over nearly three decades in the industry, Alfa's
experience and performance is unrivalled.
Alfa Systems, our class-leading technology platform, is at the
heart of some of the world's largest asset finance companies. Key
to the business case for each implementation is Alfa Systems'
ability to replace multiple client systems on a single platform.
Alfa Systems supports both retail and corporate business for auto,
equipment, wholesale and dealer finance on a multijurisdictional
basis, including leases/loans, originations and servicing. An
end-to-end solution with integrated workflow and automated
processing using business rules, Alfa Systems provides compelling
solutions to asset finance companies.
Alfa Systems is currently used by customers or has live
implementations in 26 countries and Alfa has offices in Europe,
Australasia and North America. For more information, visit
www.alfasystems.com
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END
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