RS2 Software plc - Interim Directors’ Statement

Wednesday, May 14th, 2014

On 13 May, RS2 Software plc published its Interim Directors’ Statement to update the market on its performance during the first quarter of 2014. The Directors stated that during Q1, the Group performed as expected and while on the one hand it increased its business with existing clients, on the other hand it also registered progress in negotiations to conclude agreements with new clients. During the first three months of 2014, the RS2 Group registered a 38% increase in revenue to €2.9 million and a significant improvement in net profit to €0.47 compared to €0.15 in the first three months of 2013.

The Interim Statement made reference to some new contracts and initiatives signed in recent, namely the contract with OK Q8 (a specialist in petroleum cards) for a new licence which is in the implementation stages and is progressing as per schedule and the partnership with Fexco to deliver the Dynamic Currency Conversion (DCC) technology. Furthermore, the Group’s fully owned subsidiary, RS2 Smart Processing Limited, has managed to sign two letters of intent with two prospective clients and also has pending proposals with other prospective clients in Europe and North America.

The announcement also confirmed the Group’s €1 million investment in the new premises in Gozo.

The Directors further explained that RS2 is still actively evaluating its presence in the Latin American region and is currently undergoing an appraisal exercise to establish the appropriate country to set up a sales and support office in the region.

In conclusion, the Directors noted that whilst the Group continues to look for the best opportunities, they believe that 2014 will be a very exciting year and their outlook for the year remains positive.

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