quarterly board REPORT¶
Prepared for the Board March 2026¶
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1. Executive Summary
Trading conditions in the March quarter were broadly in line with expectations, with revenue ahead of forecast and operating costs held flat against the prior period. Two of the four business units exceeded their targets.
2. Financial Overview
The following table sets out performance by unit. Figures are unaudited and exclude one-off restructuring costs.
| Business unit | Q3 | Q4 | Var |
| Professional services | 1,240 | 1,388 | +11.9% |
| Licensing | 862 | 844 | -2.1% |
| Support & maintenance | 519 | 604 | +16.4% |
| Total | 2,621 | 2,836 | +8.2% |
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2. Risk Register
4. Recommendations