Wednesday, 10 June 2009

Focus’ focus on financial services pays off

(By Philip Carnelley – Wednesday 10th June 2009 9:45am). Despite selling into the troubled financial services market, ­Focus Solutions Group turned in a solid performance for the year to 31st March '09 (see here), with turnover up 12% to £9.6m, and operating profit up 17% to £1.7m. Focus supplies sales and support systems, e.g. for wealth management and mortgage solutions to banks, insurance companies and IFAs.

As we noted last September (see It’s not all ‘gloom and doom’ in UK financial services!) Focus landed a £5m deal with HSBC. It has also continued to sign up other new clients like Bank of Ireland and Towergate. Focus also boosted its services business by acquiring a small training/consultancy outfit, The Coaching Platform last December. Management expects to deliver “strong organic growth at attractive margins” this year – we hope not too optimistically - and is exploring moves into continental Europe.

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