Switzerland-based core
banking software supplier, Temenos, has posted record results for
the 12 months to 31 December.
Temenos reported
adjusted earnings before restructuring charges and amortisation of
acquired intangibles for fiscal 2010 of $113.7m, up 24.5% on the
previous year.
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Total revenue increased
by 21% to £448m while licence revenue of $160.1m represented a 27%
increase.
Andreas Andreades,
Temenos CEO, said:
“The prospects for 2011
are very exciting. We believe spending on modern, externally
developed core systems will continue to grow as banks worldwide
become more convinced that the appropriate technological platform
is a prerequisite for sustainable growth and vendors are able to
demonstrate more conclusively that this is indeed the
case.”
For fiscal 2011, Temenos
has forecast like-for-like growth in licence revenue of 15-20% and
growth in total revenues of 22-26% in constant
currencies.
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By GlobalDataIn a separate statement,
Temenos said that Andreades will become chairman of the firm from 1
July.
