Aptitude Software Group PLC AGM Statement and Appointment of CFO (6400Z)
17 Mayo 2023 - 1:00AM
UK Regulatory
TIDMAPTD
RNS Number : 6400Z
Aptitude Software Group PLC
17 May 2023
17 May 2023
APTITUDE SOFTWARE GROUP PLC
('Aptitude' or the 'Group')
AGM Statement and Appointment of Chief Financial Officer
Highlights
-- The Board remains confident that the Group's performance
for 2023 will remain in line with its previous expectations.
-- Continued new business success with Aptitude Accounting
Hub and Aptitude RevStream.
-- Fynapse pipeline continuing to grow with Telco charter
client go-live on track.
-- Mike Johns, previously Acting Chief Financial Officer,
appointed to the Board as Group Chief Financial Officer.
Ivan Martin, Chairman of Aptitude, provides the following
trading update in advance of the Annual General Meeting to be held
at 9.00 a.m. today.
Aptitude has continued to achieve new business success in the
first half of 2023, including the sale of Aptitude Accounting Hub
to a large European bank and Aptitude RevStream to a leading
consumer products subscription business in North America.
Continued progress has also been made with Fynapse, the Group's
next generation strategic digital finance platform, with a growing
pipeline of opportunities both directly and through our strategic
partnerships with Microsoft & KPMG. The North American Telco
charter client remains on track to go-live in the middle of
2023.
Progress within Subscription and Revenue Management has been
impacted by the higher levels of churn experienced in 2022
continuing into the early months of 2023, as certain clients
monitor spend as a result of wider economic uncertainty and high
inflation. The Board remains confident in the strategic positioning
of its portfolio and this is supported by a growing pipeline of
opportunities.
The Group's performance in the first half of 2023 has been
underpinned by the achievement of successful go-lives across the
base of clients with the Aptitude Insurance Calculation Engine
following the compliance deadline in 2023. The Group continues to
see growing opportunity across the base of clients, particularly
with Assure, Aptitude's increasingly popular Solution Management
Service.
As ever, but particularly given the current economic
environment, the Board continues to carefully control investment
levels in the business, whilst maintaining committed levels of
spend for Fynpase and other strategic priorities. The Board remains
confident that the Group's performance for 2023 will be in line
with its previous expectations.
Board Change
The Board is pleased to announce that following the conclusion
of a formal selection process by the Group's Nomination Committee,
Mike Johns has been appointed to the role of Chief Financial
Officer for the Group with immediate effect. Mike had assumed the
role of Acting Chief Financial Officer in January 2023 following
the notice that Philip Wood would be retiring from the Board in
July 2023.
Mike joined Aptitude in September 2017 and has previously held a
number of senior finance positions within the Group.
No further details are required to be disclosed in respect of
the appointment under LR 9.6.13 of the Listing Rules of the
Financial Conduct Authority.
Contacts
Aptitude Software Group plc
Ivan Martin, Chairman 020-3687-3200
Jeremy Suddards, Chief Executive Officer
Philip Wood, Deputy Chief Executive Officer
Mike Johns, Chief Financial Officer
Alma PR
Caroline Forde / Hilary Buchanan 020-3405-0205
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END
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