UK market data technology firm Knowledge Technology Solutions says new contracts for its QuoteTerminal service have resulted in a 21% increase in managed service revenues since it posted its full year results in October.
KTS says since reporting full-year results on the 15th October, its UK-specific financial information service QuoteTerminal has won new enterprise-wide contracts (contracts with more than 25 terminal licences), leading to the increase in contracted annualised managed service revenues.
Gavin Casey, recently appointed chairman, KTS, says "We are continuing to capitalise on the advantages inherent in our proprietary technology, which when coupled with our customer-led service, has enabled us to continue to grow market share in the first quarter."
The firm's cash position remains strong with a net cash balance of approximately £1.2 million at 30 October 2003, he adds.
In addition, KTS' international service, MarketTerminal, is about to enter beta testing with a select number of global financial services firms.