Press Release

Radius continues strong growth

9 September 2003, Feltham

Building on its strong financial performance in 2002, Radius Computer Services Limited today announces that it has continued to grow its business strongly and profitably in the first half of 2003. It has achieved increased levels of business, whilst maintaining its investment of over 12% of revenues in research and development.

The financial results for the half-year to 30 June 2003 (unaudited) show the continued growth, with revenues increased by 7% to £4.1 million, and the same level of profitability as the half-year to 30 June 2002. The first half has also seen a strong order inflow, resulting in a 56% year-on-year increase in our order book to £1.3million. This figure excludes our annually recurring fees, which at over 50% of our revenues, together with the strong order book, give excellent visibility of future revenues.

Phil Benton, Managing Director, said: “The high level of interest in our new Financial Management information System, Radius Financials, has been particularly pleasing. Sales in the first half have been ahead of expectations, and we are confident of enhancing our position over the coming months as the market-leading supplier of FMIS to Local Government.”

To download full audited results for the year to 31 December 2002 click here (pdf 263kb).

Editor's Note

About Radius

Radius has been supplying software and services to the UK Public Sector for over 22 years. Radius is acknowledged as the leading supplier of financial, debt and income management systems to the Local Authority market, where it has over 200 UK Local Authorities as its customers.

About Radius Financials

Radius Financials applications are available across a variety of technical infrastructures including mainframes, Unix and Microsoft servers. A wide variety of UK local authorities use Radius Financials applications, ranging from County Councils to Metropolitan, Unitary and District Councils.

The latest version of Radius Financials has been developed as an 'n-tier' solution using Microsoft's component-based technology to deliver truly impressive features and performance. Radius Financials retains the tried and tested features that our customers tell us have been so successful in our existing products. These have been complemented by new facilities that take advantage of the new technology available, paying particular attention to the 'driving experience' to ensure that Radius Financials is both easy and satisfying to use. The result is a system that provides the integrated tools needed to master your financial data and processes, taking full advantage of the information contained within your financial systems.

Radius Financials supports large end-user populations and transaction volumes. With a modular design Radius Financials offers a breadth and depth of functionality that meets the needs of today's Local Authority marketplace

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