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Sirius sees 154% increase in pre-tax profit

Sirius Financial Solutions has announced a 154 per cent increase in its pre-tax profit compared to the same six month period in 2005, from 226,000 to 573,000.

Operating profit before goodwill amortisation increased 50 per cent from 734,000 to 1.1m.

After charging goodwill, operating profit was 615,000, increasing from 253,000 in the first half of 2005.

The interim results, for the six months to June 30, 2006 showed an 8 per cent increase in total revenues to 11.49m.

Sirius Financial Solutions chairman and group chief executive Stephen Verrall says: “At this stage we remain confident that expectations for the full year will be met. We have a solid and growing base of recurring revenues, strong services
order book and a healthy prospect pipeline. We continue to focus on building on
the Sirius 21 community and aim to secure new business wins for our Sirius for
Insurance product.”

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