GBST - Australia's largest provider of securities transaction processing - today announced highlights of the group's performance for the quarter ended 30 September 2005.
Q1 FY'06 Highlights
- Operating Revenue of $6 million up 14% from pcp,
- EBITDA of $1.75 million up 54% on pcp,
- Citigroup Custody went live on GBST's third party clearing platform and introduced their first client,
- Leverage Equities, went live with GBST's Margin Lending Interface, delivering new recurring license revenues,
- At 30 September 2005, the company had cash reserves of $7.7 million and no borrowings.
| |
Quarter to 30 Sept |
% increase |
2006
$'000 |
2005
$'000 |
| Operating Revenue |
6,024 |
5,290 |
14% |
| Operating Expenditure |
4,272 |
4,151 |
3% |
| EBITDA |
1,752 |
1,139 |
54% |
GBST Managing Director, Stephen Lake said "Our solid growth in profitability for the quarter reflects higher levels of trading activity than the comparative quarter and recurring
license revenues from new business. The use of specialist staff to manage client relationships is also delivering growth in services revenue and a healthy pipeline of future
work. Our results continue to benefit from the levels of equities trading volumes however, consistent with our peers, we can not predict future trading levels."
In releasing these results Mr Lake commented that "GBST's balance sheet strength upon listing, and our trading performance since, leaves us well positioned to acquire the Palion
broking business and consider other opportunities. Our negotiations with OMX for the acquisition of Palion remain on track and we believe it is important for the market to
understand our current financial position as we enter into this acquisition."
About GBST
Established in 1983 GBST (Global Banking and Securities Transactions) is the largest provider of securities transaction processing in Australia and a leading provider of transaction solutions for the financial services industry.
GBST's core competence is real time integrated transaction processing which reduces costs and the need for and risks to capital for a wide variety of market participants, including: global investment banks, custodians, clearers, stockbrokers, exchanges, margin lenders, and cash management providers.
With offices in Brisbane, Sydney, and Melbourne, GBST has around 130 staff committed to providing advanced transaction solutions.
www.gbst.com
Contact:
Stephen Lake
Managing Director/CEO
GBST Holdings Limited
Phone: + 61 7 3331 5555
Email: stephen.lake@gbst.com
Or
Kieran Wallis
CFO
GBST Holdings Limited
Phone: + 61 7 3331 5555
Email: Kieran.wallis@gbst.com
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