SSPH Ssp Hold

RNS Number:0340S
SSP Holdings PLC
10 April 2008



For immediate release                                              10 April 2008

                                SSP Holdings plc
                                 Trading Update

SSP Holdings plc ("SSP" or the "Group"), a leading provider of IT solutions to
the global insurance industry, today issues a trading update in respect of the
year ended 31 March 2008.

The Board is pleased to confirm that SSP's results for the year are anticipated
to be in line with management expectations. We once more enjoyed double digit
revenue growth, with pleasing performances in particular from our Insurer
Systems and International Divisions. Transaction related revenues in the UK
broker market continued to grow in the year and to make a strong contribution to
Group revenues.

The acquisition of Sirius, which completed in July 2007, has further improved 
our position in our core UK and international markets.  We are very pleased with
the Sirius business integration, which is progressing well, on time and to budget.
We have achieved the anticipated annualized cost savings of approximately �2 
million to date and, we expect in the year beginning April 2008 to start to see 
the rewards of the opportunities in many territories brought about by this 
acquisition, as well as further cost savings.

The products we acquired through Sirius are well regarded and we have been
particularly successful with the insurer product Sirius for Insurance ("S4i").
The value of contracts won for S4i in the 9 months since acquisition are almost
double that achieved in any previous full year.

We have recently extended the international rights for InsureJ, the latest SOA
Java product, which we expect to perform well over the coming years. We have
also acquired the Australasian rights to Insure90; these add to the highly
profitable rights we already have for Europe, the Middle East and South Africa
and extends our footprint and customer base in Asia-Pacific.

We are continuing to win a substantial level of new contracts and to build upon
our existing relationships. The quality of our revenues remains very strong and
we continue to have excellent forward visibility of our revenue streams.

The Directors believe that the insurance industry dynamics remain highly
favourable for SSP in both the UK broker and the international insurance company
systems market and that SSP will make significant further progress in the
forthcoming financial year.

                                    - ends -

Enquiries:

SSP Holdings plc                                                    01422 330022
David Rasche, Executive Chairman
Nick Bate, Finance Director

KBC Peel Hunt Ltd                                                  0207 418 8900
Oliver Scott / Nicholas Marren

Weber Shandwick Financial                                          0207 067 0700
Nick Oborne / John Moriarty

Notes to Editors

About SSP

SSP is a market-leading IT systems and services provider to the global insurance
industry. With over two decades' experience, SSP has a proud history of delivering
innovative solutions that improve business control, productivity and efficiency.
SSP has the largest share, by revenue, of the UK retail general insurance broker 
and intermediary systems market as well as the largest installed base of general 
insurer systems in the UK.

SSP has a unique 'carrier to consumer' proposition whereby its solutions
facilitate communication and interaction across all participants in the
insurance chain, starting with insurance underwriters or agencies and ending
with consumers. At one end of the chain, the Group's solutions enable the
consumer to purchase insurance products through a range of channels including
intermediaries, brokers, call centres, affinity groups and the internet. At the
other end of the chain, the Group provides insurers with back office and
administration solutions.

SSP is the partner of choice for insurance businesses worldwide, with more than
41,000 users in over 50 countries. Customers include; Fortis, Admiral, Norwich
Union, AON, Brit, QBE, Zurich, ACE, RBS, HSBC Insurance Brokers, Jardine Lloyd
Thompson, Towergate, Swinton, Kwik Fit Insurance Services, Oval, Willis
Commercial Network and, most recently, United India Insurance Company.

Nearly 700 people support customers from headquarters in Halifax and offices in
Birmingham, the South of England, Northern Ireland, the Republic of Ireland,
Denmark, South Africa, Australia, New Zealand, Kenya, India and the United
States.

SSP is quoted on AIM and has a market capitalisation of approximately �95m.





                      This information is provided by RNS
            The company news service from the London Stock Exchange

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