RS2 plc - Interim Directors’ Statement

On 12 November, RS2 Software plc published its Interim Directors’ Statement updating the market on its performance since the publication of its interim results as at 30 June 2015.

The Directors explained that the Group is continuing to build on the success of the previous months as demand for the Group’s services continues to be significant and in line with that of 2014 as well as the first six months of 2015. Besides increasing its implementation and service offering to its clients in Europe, Latin America and Asia Pacific, the Group also registered an increased interest from other regions such as the Middle East and Africa.

The announcement also explained that following the recent increase in the Group’s subsidiary Transworks LLC to 64%, the Group is intensifying its expansion plans for the United States. Transworks LLC will be engaged in both licensing and managed services and will serve as the US division of the RS2 Group. Similarly, the Group is setting up a subsidiary in the Philippines, which will serve as a support office to the Group as well as first line development and support center for the Asia Pacific region, where the Group 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 and over the next two to three years the office should be able to offer complimentary services to the managed services operation of the Group in addition to software development.

In the meantime, the Group continued to strengthen its position within the payment industry as it was rated amongst the top global solutions by PayX (an independent international payment consulting firm) and also successfully attained validation from the Payment Card Industry (PCI) council for the latest version of the Payment Application Data Security Standard. Additionally, further benchmarking tests done by the Group confirmed that the BankWORKS® software has managed to double its performance capacity to 40 million transactions per hour, thereby achieving Oracle Exadata Optimised Status.

Overall, the Directors stated that RS2 continues to hold a very strong pipeline of potential business and maintains a positive outlook for the year.