Lombard posts record results
14 May 2014 London
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Lombard Risk Management saw revenues climb by 拢3.6 million to 拢20.4 million for the financial year ending 31 March 2014; amounting to a compound revenue growth in the last four years of almost 23 percent per annum.
Earnings before interest, taxes, depreciation, and amortisation (EBITDA), adjusted for share-based payments, increased from 拢5.3 million in 2013 to 拢5.9 million in 2014 and profit before tax increased from 拢3.9 million to 拢4.4 million.
Both profit before tax and revenues were ahead of market expectations. In addition to these revenues, Lombard also posted a record revenue backlog/order book going into the new financial year.
The group continues to benefit from having a strong market position in two important and growing segments of the financial industry: namely regulation such as the European Banking Authority鈥檚 common regulatory reporting network (COREP) and collateral management.
In the company鈥檚 year results document it states: 鈥淎dditional growth can also be expected to come from the compliance area, where we have a new product, and from our increased use of alliances with major global firms or leading regional firms.鈥�
鈥淥ur professional services team is extremely busy billing its time to meet the COREP deadlines of seventy clients, but the programme is on track. We remain confident of further growth in the new financial year and beyond.鈥�
CEO of Lombard, John Wisbey, commented: "We have entered the new financial year with recurrent revenues at another all-time high of around 拢8.6 million, our highest ever year end level of order book at 拢5.2 million and with a good sales pipeline.鈥�
Earnings before interest, taxes, depreciation, and amortisation (EBITDA), adjusted for share-based payments, increased from 拢5.3 million in 2013 to 拢5.9 million in 2014 and profit before tax increased from 拢3.9 million to 拢4.4 million.
Both profit before tax and revenues were ahead of market expectations. In addition to these revenues, Lombard also posted a record revenue backlog/order book going into the new financial year.
The group continues to benefit from having a strong market position in two important and growing segments of the financial industry: namely regulation such as the European Banking Authority鈥檚 common regulatory reporting network (COREP) and collateral management.
In the company鈥檚 year results document it states: 鈥淎dditional growth can also be expected to come from the compliance area, where we have a new product, and from our increased use of alliances with major global firms or leading regional firms.鈥�
鈥淥ur professional services team is extremely busy billing its time to meet the COREP deadlines of seventy clients, but the programme is on track. We remain confident of further growth in the new financial year and beyond.鈥�
CEO of Lombard, John Wisbey, commented: "We have entered the new financial year with recurrent revenues at another all-time high of around 拢8.6 million, our highest ever year end level of order book at 拢5.2 million and with a good sales pipeline.鈥�
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