TIKIT GROUP LTD 
By "Our requirements for a partner to manage our IT infrastructure were: a trusted and experienced supplier; an organisation with the knowledge of our industry and our specific applications; a proven track record of successful delivery, on time and on budget. We identified Tikit Network & Integration Services as a technology provider who could fulfil our requirements."
Ashurst LLP
Tikit Group plc (TIK.L), a leading provider of consultancy, services and software solutions to major UK, North American and European law firms and accountancy practices, announces an update on trading for the six months ended 30 June 2011, prior to entering its close period.
It is pleasing to report that trading during the period has been in line with management's expectations, that profits are significantly ahead of the prior year and the Group has remained cash generative.
Whilst revenues are expected to be similar to the same period of 2010, the proportion of Tikit-owned software revenues compared with third party software revenues has increased, resulting in better margins.
Support revenues from the recently acquired Carpe Diem software have been better than planned and we continue to make progress in developing and winning multi-year, outsourcing contracts. The Group has recently commenced support on a two year contract with Sprecher Grier Haberstam LLP to outsource all IT support and service functions.
We have launched an important new product which will drive future growth and profits called Tikit Legal Office. This cloud based solution delivers a market leading legal IT solution to law firms and comprises Tikit's own award-winning software as well as best of breed third party software, all delivered by Tikit's managed services team.
Despite experiencing delay by some clients to commit to major projects involving third party software, the Group continues to experience good levels of interest for Tikit-developed software and managed services. The Board expects that the Group's normal positive second half weighting in terms of profitability will continue this year. The Group looks forward to updating shareholders further at the time of its interim results in early September.
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About Tikit
Established in 1994, Tikit is one of the largest independent suppliers of technology solutions and services to legal and accountancy firms. Tikit's client list totals more than 1,300 firms in the UK, EMEA and North America. These include more than 90 of the UK's top 100 law firms, 300 US law firms, 12 of the European top 20 law firms and 18 of the UK's top 50 accountancy firms.Tikit combines an unmatched understanding of the technology needs of legal and accountancy firms with a broad portfolio of solutions and services, allowing clients to drive real business value and advantage. These solutions include IT Outsourcing, Financial and Practice Management, Time Capture, Document Management, Document Production, Workflow, Client Relationship Management and Infrastructure Services. Headquartered in London and listed on the London Stock Exchange (AIM:TIK), Tikit is positioned as a successful focused business to serve the IT and service needs of legal and accountancy firms.
Further information:
| Tikit Group plc | 020 7400 3737 |
Mike McGoun (Chairman) David Lumsden (Chief Executive) Mike Kent (Finance Director) | |
| Tavistock Communications | 020 7920 3150 |
| John West | |
| Charles Stanley Securities (Nominated Adviser) | 020 7149 6000 |
| Mark Taylor |
7th July 2011
Pre-close Trading Statement
Tikit Group announces an update on trading for the six months ended 30 June 2011, prior to...
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