A rise of 26 per cent in earnings in 1993, following a 20 per cent increase the previous year, makes Sema an interesting prospect.
The growth stems from its expertise in big and complicated information technology projects. Recent successes have included the Channel Tunnel traffic management system, the Barcelona Olympics reservation system and the equivalent system for this year's football World Cup. The complexity of such projects makes a solid reputation important - and tends to bring repeat business.
The company is also concentrating on technical markets where its expertise gives it another advantage. Its fastest-growing areas of business are defence, energy and transport. Few of Sema's competitors can install control systems for a nuclear power station, for example.
Brokers' forecasts for 1994's pre- tax profits cluster around pounds 30m, compared with 1993's pounds 25m before tax and exceptionals. And the historic price-earnings ratio at 22.4 puts Sema on a modest rating for the computer sector.Reuse content