Kalahari, provider of real-time price discovery, analytics and publishing, reports record results for the full fiscal year ended 31 July 2007, including its highest-ever annual revenues.
For the full fiscal yea, the company has seen an increase of 3% in revenues on the previous year. In addition, the company has invested almost half a million sterling in 2007 on the development of its next generation of kACE. A launch for the new product is scheduled for 2008.
The company considers highlights for 2007 to be substantial investment in the next generation of kACE; a three-year contract with the FTSE Index Company to publish bond and fixed income indices; and new management appointements, including Steve Palmer as finance director, John Conlan as non-executive director, Edward Maher as managing director for the Americas region and Martin Stevens, director of professional services and support.
“Demand for our services remains robust,” says Graham Mansfield, managing director. “We have expanded our operations, delivered strong cash flow and maintained a healthy balance sheet; 2007 has laid the foundations for significant future growth following the investment in our next generation of kACE, securing the significant FTSE contract and the strong start we have made with new customer sales in the current year.
“Kalahari is a profitable, cash generative business well able to capitalise on its strong presence in the global money and foreign exchange markets, where in recent turbulent months its participants have been reminded of the importance of our analytic solutions,” he continues.