TEMENOS Group, a provider of banking software, has released their financial results for 2006 which show an increase in revenue of 28 percent.
“It is a pleasure to report on such an outstanding performance,” says Andreas Andreades, the Chief Executive of TEMENOS Group. “The business has performed exceptionally well across the board. We have been able to deliver above plan revenue and licence growth and continue to deliver significant profit improvement also above plan. With a complete management team now well established our sales and services execution are moving into a higher gear. Our products are exceptionally well placed to deliver client value and our competitive position is continuously improving against all market players. Finally we have now put in place the cornerstone of our United States and TCB strategies with the conclusion of an exclusive joint development and distribution partnership agreement with a leading US software and services provider. We have upgraded our 2007 outlook consistent with our performance and earnings and revenue visibility”.