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November 1, 1999

Terence Chapman Predicts “Good Year” Despite Y2K

By CBR Staff Writer

London, UK-based financial sector IT services and software company, Terence Chapman Group Plc (TCG), forecasts a good year ahead after producing its first annual figures since its initial public offering in July. In the year to August 31, net profit rose 34.1% to 3m pounds ($4.9m) on revenue up 46.8% at 30.6m pounds (50.4%). Net earnings per share rose 35.5% to 5.45 pence.

While as forecast, its TCA Consulting arm has been hit by Y2K uncertainty, the company says there is evidence of significant client spending plans post-millennium. It is working with several clients on areas such as e-commerce and CRM software. Revenue last year rose 52% to 19.5m pounds ($32.1m).

The TCA Synergo operation, which markets its proprietary TAROT software to stockbrokers and fund managers, increased revenue 38% to 11.3m pounds ($18.6m) and increased operating profit by 40% to 1m pounds ($1.6m). Later this month, TCG is launching a major upgrade TAROT2000 which it feels will strengthen its position as the leading provider of software and services in its field.

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