Sophis, a leading provider of cross-asset, front-to-back risk and portfolio management solutions, today reported record revenues of €72.2m ($112m) for the fiscal year ending December 2007, an annual growth rate of 50%. Sophis also confirmed its strong position on both sides of the market, by adding 16 new buy-side clients and nine new sell-side clients, bringing its client base to 54 banks, 50 hedge funds and 15 asset managers. The successful performance in 2007 follows four years of average annual revenue growth of over 40%.
"We are very pleased to have generated record revenue growth in 2007. I am proud to see these results in my last year at Sophis," says Herve Vinciguerra, founder of Sophis. "The Sophis team has worked very hard with our customers to achieve success. I would like to thank the Sophis team and our clients for their support over the last 20 years and wish them all continued success."
Pascal Xatart, ceo Sophis, says, "By reinforcing our position in North America and keeping our focus on research and development we hope that our 2008 performance will be just as strong, if not even stronger. We aim to accelerate our international expansion this year and will continue to ensure our solutions rapidly meet the changing needs of a demanding client base.
"Our clients operate in extremely challenging and fast-moving markets, which are driven by global regulation and uncertain economic conditions. Our solutions help to reduce the risk of functioning in these markets as well as starting up new operations in different territories and sectors."