RS2 Software plc – Interim Directors’ Statement
RS2 Software p.l.c. issued the following company announcement issued in compliance with Chapter 5 of the Listing Rules.
The Group continues to build on the success of the previous months. During the second half of the year, the demand for the Group’s services continues to be significant and in line with that of 2014 and the first six months of 2015. The Group continues to increase its implementation and service offering to its clients in Europe, Latin America and Asia Pacific. There is also an increased interest from other regions such as the Middle East and Africa.
Following the recent acquisition of additional shares in the US subsidiary (bringing the total shareholding to 64%), the Group continues to intensify its expansion plans for the United States. The US subsidiary will be engaged in both licensing and managed services and will serve as the US arm of the RS2 Group. Similarly the Group is progressing on the set up of a subsidiary in the Philippines, which will serve as a support office to the Group and first line development and support center for the Asia Pacific region, where it is pursuing certain opportunities for licensing and managed services business. On the local front, early in August this year, the Group inaugurated its Gozo office, which is now fully operational. The target for the next two to three years is that it will be able to offer complimentary services to the managed services operation in addition to software development from the Gozo office.
In the past months the Group continued to strengthen its position within the payment industry. PayX (an independent international payment consulting firm) has once more ranked the BankWORKS® software among the top global solutions in their new edition of the PayX Payment Vendor Comparison Report.
The Group also successfully attained validation from the Payment Card Industry (PCI) council for the latest version (Version 3.1) of the Payment Application Data Security Standard (PA-DSS).
The Group has carried out further benchmarking tests on Oracle Exadata Database Machine demonstrating that the BankWORKS® software is capable of processing over 40 million transactions per hour, essentially doubling the performance capacity, thereby achieving Oracle Exadata Optimised Status. Potential as well as existing clients look at these achievements as testimonials of the strength of both RS2 as a supplier and BankWORKS® as an optimal solution.
The Group, whilst maintaining the trust of its existing client base, continues to hold a very strong pipeline of potential business and maintains a positive outlook for the year.
To view the Official Company Announcement, click here.