Operational Summary:
Performance in line with revised outlook
Revenue performance across the four segments (underlying constant currency):
o Content Management Technologies down 0.7%
o Language Technologies down 9.0%
o Global Solutions (formerly Language Services) down 3.2%
o Campaign Management, Analytics & Social Intelligence down 15.3%
Geographically, headline growth in Continental Europe up 4%, Americas and Asia Pacific down 6% and 4% respectively
New customer wins in the period include: Tekla Corporation, Edwards Life Sciences, Bank of Finland, Amalgamated Banks of South Africa, Provident Insurance plc and Amerigroup Corporation
Several key product launches further strengthened SDL's leadership in Customer Experience Management
Completed strategically important acquisition of Bemoko, a mobile solution extending SDL's Customer Experience Management offering
Progress made to strengthen SDL's executive team, through appointments of:
o Chief Marketing Officer
o Global Head of HR
Our transformation programme remains on track and we are making headway to deliver a more robust platform for future growth adding 85 new (65 net) sales and marketing staff
Mark Lancaster, Chief Executive Officer, commented:
"Although investments are taking longer to deliver bookings growth than originally anticipated, we are starting to see pipeline improvements on both the technology and services side. We expect to benefit from cost savings following systems investments and substantial structural improvements in the latter half of the calendar year, with a more pronounced impact in 2014.
"We are taking a cautious view for the remainder of this financial year on the speed of recovery in Services volume and Technology licence sales growth. We believe the investments we are making to address future business opportunities will unlock the intrinsic value within SDL to deliver our technology products and services. As we enter the second half, our guidance for 2013 remains unchanged and the Board remains confident in the Company's strategy and ability to deliver shareholder value in the longer term."
