Global Technology's International Partner, Temenos
RESULTS FOLLOWING IPO
GLOBAL TECHNOLOGY LIMITED
TEMENOS, the international partner of JSE-listed Global Technology Limited,
today announced excellent results for the 12 months ended 30 June 2001.
Global Technology owns a strategic 15% stake in TEMENOS, a leading provider
of integrated banking software systems for financial institutions.
The results are the first published since TEMENOS' recent listing on the
Swiss Stock Exchange (SWX). Revenues for the quarter were USD39.2 million,
up 68% compared to the same period last year. This brings the revenue for
the twelve months ended on the same date to USD125.2 million, up 80%
compared to the same period last year.
Ray Leonard, CEO of Global Technology and director of TEMENOS, comments,
"TEMENOS has successfully beaten the uncertainty and upheavals of the
technology market to produce a set of very strong results. Based on TEMENOS'
current value on the SWX, Global Technology's 15% stake is worth R732
million. This translates to a value per Global Technology share of R1.82 for
the company's TEMENOS investment alone."
George Koukis, Chairman and CEO of TEMENOS, and director of Global
Technology, states, "In a business world where negative announcements have
become the norm, it is my pleasure to announce that our maiden quarterly
results have exceeded our expectations. In addition our prospects are
extremely strong."
Revenues, earnings, client numbers and staff numbers have all increased.
There is a strong demand for TEMENOS' leading software product, GLOBUS.
Recently awarded contracts include Merrill Lynch in Japan and Bank Julius
Baer in New York. Global Technology will be assisting with the
implementation of the Merrill Lynch contract. TEMENOS has also experienced
tremendous growth in our licencing revenue.
Global Technology is the leading supplier of software solutions to the
banking, insurance and financial communities in Africa and Australia.
ends
Written and distributed by : Arcay Financial Communications
On behalf of : Global Technology Limited
Further information : Belinda Leftwich
Tel : 27 11 480 8554
Fax : 27 11 480 8556
Cell : 083 303 9771
e-mail : leftb@arcay.co.za
For immediate comment:
Gavin Leonard, Financial Director of Global Technology :
011 797 6902
Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
