LLP Group – Annual Results

Prague, 11. March 2009 - 2008 saw revenue growth of 27% for LLP Group to 10.7 Million EUR, and profits of around 400 K EUR. The year also saw the addition of three new companies to the group - LLP Luxembourg, LLP Belgium and LLP Russia, and the separation, though it remains within the group, of software division systems@work. The group now employs 195 staff in nine countries, largely in ‘new’, but now also in ‘old’ Europe.

‘I am extremely pleased with our achievements in 2008, especially in the current circumstances,’ comments Group Chairman and CEO, Adam Bager. ‘The first half of 2008 involved considerable investment, with three new companies opening their doors in the first four months. However by the end of the year our investments began to show a return, with record levels of consulting and licence sales during the last four months, and revenue and profit forecasts being revised upwards. We enter 2009 with plans for further expansion, even though we believe the global financial crisis will affect us seriously from the second quarter of 2009. We keep a very watchful eye on this situation, but do not yet see a serious dip in the confidence of our country managers.’

LLP Group, with headquarters in Prague, provides consulting and business software services in Czech, Slovakia, Hungary, Croatia, Bulgaria, Romania, Belgium, Luxembourg and Russia, and resells Infor, Microsoft Dynamics, Pivotal CRM and systems@work business software. The group’s consultants worked in 47 separate countries during 2008.

‘I remain optimistic about our prospects,’ comments Bager. ‘We expect a challenging year or so, but are alert to the opportunities that will arise as this part of the world resumes its growth. Now is the time to prepare. We expect accelerated investment in IT and services once the recession is over.’