Belfast, Northern Ireland -- Lagan, the Belfast-headquartered global leader in technology that connects governments and citizens, issues the following update on business performance for the 3rd quarter of its 2009/10 financial year:
Financial and operational highlights:
- A profitable third quarter for the business, the fourth profitable quarter in succession.
- Considerable new business momentum in Lagan’s core markets – the UK and North America.
- Year end profit forecast upgraded to reflect increased business momentum.
- Year to date revenues up 10% year on year.
- A string of new business wins – several UK local authorities, housing associations and other public sector organisations, including Westminster, Bolton, Moray, Renfrewshire, South Northamptonshire, Trafford Homes, Enfield Homes and Transport for London’s cycle hire scheme. Strong new business pipeline in North America in addition to incremental business wins.
- Very positive US market reaction to new Lagan innovations, including Citizens Connect, a mobile application that delivers local resident requests direct to the local service provider and Lagan On Demand, a suite of cloud-based services designed for rapid deployment across a wide range of government functions.
- An estimated 20 new jobs to be created in Belfast before the end of 2010.
Des Speed, CEO of Lagan Technologies, said: “It has been another positive quarter for Lagan and we are confident that we will beat our profit forecasts for the current financial year. The progress that we are making is a direct result of the strategic decisions and investment that we made in 2008 and 2009. There is considerable momentum in our business pipeline. The reaction to recent innovations, including our mobile application Citizens Connect, which integrates seamlessly with our enterprise case management suite, has been very positive, as has the initial response to the introduction of Lagan OnDemand, a suite of offerings that local government can access and utilize within weeks. Looking ahead, we see significant market opportunities as governments globally at all levels – local, state and national – seek to deliver better services to citizens at a lower cost."