FOR IMMEDIATE RELEASE
Tel: (020) 8762 9292
HYPERION ENGINEERS PRECISE CHANGES TO HAMPSON FINANCIAL REPORTING PROCESS
… supports rights issue and US acquisition…
LONDON, UK – 10th December, 2004 – West Midlands-based UK aerospace engineering group, Hampson PLC, is resetting its sights on growth after a period of extensive restructuring and consolidation with the help of financial reporting solutions from Hyperion, (Nasdaq: HYSL) the global leader in Business Performance Management software.
With sales in 2004 of £69 million and 1,200 employees, some 66% of the group's revenues are aerospace related. The group's operations are structured into four divisions, operating from eight facilities in the UK and three in North America. The group is an existing principal supplier to Airbus, with airframe components supplied on virtually all of the current family of Airbus aircraft. Other principal customers include Rolls-Royce plc, Short Brothers and GKN plc.
According to Libby Price (Group Chief Accountant) at Hampson: “We historically had a number of autonomous businesses with the minimum of structure given to the reporting and financial consolidation processes. Prior to January 2001, each site was using a Lotus spreadsheet to supply information, leading to a proliferation of different formats and making the process very unwieldy. If anyone wanted the answer to a specific question such as ‘What did we spend on plant rentals last year?’, we would have to trawl through multiple spreadsheets to get the information. We were not making best use of time and resource.”
Hampson decided to deploy a Hyperion solution to meet their reporting and financial consolidation needs. Continues Price: “Using Hyperion has greatly helped with pulling together information for our recent rights issue and significant US acquisition. We find the key benefits of Hyperion to be flexibility and speed of consolidation. We are now able to provide consolidations in hours rather than days and weeks, greatly improving the speed with which results are distributed to the Board. We can also add new reporting entities, such as our recent acquisition in the US and joint venture in India, very quickly and easily.”
About Hampson PLC
Hampson is a UK-listed precision engineering group serving the global aerospace, precision automotive and specialist engineering markets. For the year ended 31 March 2004, the group had sales of £69 million and 1,200 employees.
Some 66% of the group's revenues are aerospace related. The group's operations are structured into four divisions, operating from eight facilities in the UK and three in North America. Its Aerospace Fabrications and Assemblies division has developed, through continuous investment, an unequalled range of process capabilities in aluminum airframe component manufacture, including operating some of the largest aluminum sheet stretch forming equipment currently in use in the independent European aerospace supply chain.
The group is an existing principal supplier to Airbus, with airframe components supplied on virtually all the family of current Airbus aircraft. Other principal customers include Rolls-Royce plc, Short Brothers and GKN plc. The group's Precision Automotive division, which has a global leadership position in the manufacture of critical tolerance componentry for automotive turbo-chargers, is a key supplier to Borg Warner Automotive, Honeywell and Ishikawajima-Harima Heavy Industries Co. ("IHI") of Japan, amongst many others. Contact Hampson at http://www.hampsonplc.com.
Hyperion is the global leader in Business Performance Management software. More than 9,000 customers – including 91 of the FORTUNE 100 – rely on Hyperion software to translate strategies into plans, monitor execution and provide insight to improve financial and operational performance. Hyperion combines the most complete set of interoperable applications with the leading business intelligence platform to support and create Business Performance Management solutions. A network of more than 600 partners provides the company’s innovative and specialized solutions and services.
Named one of the FORTUNE 100 Best Companies to Work For 2004, Hyperion employs approximately 2,600 people in 20 countries. Distributors represent Hyperion in an additional 25 countries. Headquartered in Sunnyvale, California, Hyperion – together with recently acquired Brio Software Inc. – generated combined annual revenues of $612 million for the 12 months ending June 30, 2003. Hyperion is traded under the Nasdaq symbol HYSL. For more information, please visit www.hyperion.com/uk, e-mail firstname.lastname@example.org or call 01784 228015.
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