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Lombard Risk Management sees slighlty lower revenues
Thu, 08 Jan, 2009
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Lombard Risk Management sees slighlty lower revenues
Fri, 31 Oct 2008, 15:29:00
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Software firm for the financial sector
Lombard Risk Management
said the current turmoil in the banking industry will mean revenue for 2010 will be slightly lower.
"The recent turmoil in the banking industry is likely to result in a negligible reduction in Lombard Risk's revenues for this year and a minimal reduction in revenues for the year to March 2010," said the group.
Chairman and CEO John Wisbey said at least seven companies, troubled by the recent credit crunch, are current customers.
"The board estimates the total direct economic effect of the ownership changes or other events at these institutions to be under £50,000 for the current financial year ending 31 March 2009 and likely to be less than £150,000 in respect of the year to 31 March 2010," it said.
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