Company of the Week: Misys
Sunday 07 November 1999
The Worcester-based company, which has an alliance with Healtheon to connect US doctors through the internet, operates Screentrade, an online insurance brokerage, in the UK. It also plans to develop a personal-finance website.
Misys reported accounts for its internet services separately in its report for the year ended 31 May, which analysts saw as a precursor to a spin- off of the unit.
Sales at Screentrade increased 13 per cent each month for the past year. At the current rate of sales it will generate annual revenue of pounds 130,000. That pales against total sales, which rose 30 per cent to pounds 582m this year.
The company said it will spend pounds 10m this year and pounds 20m a year in each of the following two years.
"The financial services market opportunity we are targeting is large," said Kevin Lomax, Misys' chairman. "It is already clear that the internet is acting as the catalyst for a fundamental restructuring of many financial services around the world, so we are setting out to establish a pivotal position in web-based financial services in the UK and beyond."
Investors approved: Misys' shares rose 16 per cent last week. That was their biggest weekly gain since a 32 per cent rise after the company said in January that first-half profit had nearly doubled.
Misys' shares, which trailed the FT-SE 100 index in year-to-date performance until 28 October, have now risen 35 per cent in 1999 - more than three times the 11 per cent gain in the benchmark index. The stock is becoming more liquid, too. More than 23 million shares traded last week, three times the average since 1994.
- 1 The scientist who takes 100 drugs a day so he can live to 150
- 2 The Visit: Trailer for M Night Shyamalan's latest horror film is terrifying
- 3 Company breaks open Apple Watch to discover what it says is 'planned obsolescence'
- 4 The confessions of men who ordered mail-order brides
- 5 General Election 2015: Stephen Hawking says he will vote Labour
General Election 2015: Tories sack candidate who said she would never support 'the Jew' Ed Miliband
9/11: Iranian General accuses US of organising September 11 terror attacks
General Election 2015: Stephen Hawking says he will vote Labour
Yazidi sex slaves undergoing surgery to 'restore virginity' after being raped by Isis militants
Australian student Tommy Connolly, 23, adopts his pregnant, homeless 17-year-old cousin to give her a chance at 'a better life'
General Election 2015: Chuka Umunna on the benefits of immigration, humility – and his leader Ed Miliband
The sickening truth about food banks that the Tories don't want you to know
Aaron and Melissa Klein: Oregon anti-gay bakers ordered to pay $135,000 after refusing to make cake for same-sex wedding
Andrew Lloyd Webber: Phantom of the Opera writer mocked after issuing a warning about Ed Miliband and Nicola Sturgeon
General election 2015: Labour will toughen hate crimes legislation surrounding Islamophobia
EU exit would hit UK economy much harder than neighbouring countries, study finds
iJobs Money & Business
£20000 - £60000 per annum: Recruitment Genius: Are you recently QCA Level 4 qu...
£20000 - £22500 per annum + OTE £30K: SThree: SThree Group have been well esta...
£25 - 30k: Guru Careers: We are seeking an Application Support Analyst / 1st L...
£45K - £55K (DOE) + Benefits: Guru Careers: We are seeking a full stack .NET D...