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Lombard Risk Management plc is listed on the London Stock Exchange: ticker code “LRM”. Obtain stock pricing now, or if you wish to receive information relating to investment in the firm, please email investorrelations@lombardrisk.com.

Alastair Brown, Chief Executive Officer, and Nigel Gurney, Chief Financial Officer, Lombard Risk discuss the firm’s interim results for the six months ended 30 September 2017 with Proactive Investors.

Interim Report 2017

Interim Results

Highlights of results for the six months ended
30 September 2017

First-half revenue of £12.7m (H1 2016: £15.2m), down 16.4% largely due to a temporary fall in services revenues and some delays in contract signings

Order book of contracted revenue at £9.2m (H1 2016: £9.2m)

Annually recurring revenue up 4.9% to £6.4m (H1 2016: £6.1m)

Sales bookings for the period down 21.9% on the previous year, with software licence bookings down 63.6%

Negative EBITDA of £3.5m (H1 2016: positive £1.5m) owing to lower revenue and planned increase in investment

Loss before tax of £5.9m (H1 2016: loss of £0.1m)

Capitalised development costs in the period totalled £2.7m (H1 2016: £2.8m)

Loss per share of 1.47p (H1 2016: loss per share of 0.05p)

Cash at period end of £0.4m (30 September 2016: £6.9m) with no debt (30 September 2016: £nil) and undrawn facilities of £4.5m (H1 2016: £0.5m)

New client wins including first mandate for the foreign branch reporting of a Taiwanese bank

First client win for Australian Prudential Regulatory Authority reporting

Six new AgileREPORTER® clients signed in EMEA, including three new logos

Extension of partnership network with DTCC and new partnerships with SmartDX and Elixium

Continued build-out of Birmingham technology centre

Record pipeline going into the second half of the year

Annual Report 2017

Annual Results

Highlights of results for the year ended 31st March 2017

Revenue increased by 44.8% to £34.3m (2016: £23.7m)

Recurring revenue grew 21.0% to £12.4m (2016: £10.2m), representing c. 36.0% of revenue (2016: 43.1%) 

Adjusted EBITDA increased to £2.6m (2016: £2.1m)

Loss before tax of £1.6m (2016: £2.2m)

Cash and cash equivalents at 31 March 2017 of £7.0m (31 March 2016: £3.3m)

Capitalised R&D of £7.5m (2016: £5.9m)

Adjusted EBITDA, excluding capitalisation of R&D, of negative £4.9m (2016: 3.8m)

Loss before tax, excluding capitalisation of R&D, of £5.6m (2016: £4.4m)

Launched AgileCOLLATERAL® to deliver the power of COLLINE® as flexible cloud-based solution

Announced strategic alliance with Atos

Opened state-of-the-art technology development centre in Birmingham

Raised £7.9m (net) through a placing and open offer to invest in our products and technology delivery capabilities

Secured £4m revolving loan facility agreement with Barclays Bank


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