Software helps Misys rise 40%

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The Independent Online
Misys, the computer systems group which last month withdrew a bid approach for its rival RM after the latter decided to go ahead with a market float, has raised interim profits by 40 per cent.

Worcestershire-based Misys said its order book grew 47 per cent and its cash pile increased by £2m to £35m.

Kevin Lomax, chairman, said that in the six months to November 1994 software sales had continued to grow as a percentage of total sales, with a resulting beneficial effect on gross margins.

In the financial services division, electronic transaction volumes tripled, with profits rising from £4.8m to £6.2m.

Significant development projects had also been completed in sectors ranging from banks to libraries and insurance.

Overall pre-tax profits advanced to £11.2m (£8m), with earnings per share increasing 16 per cent to 16.2p. The dividend increases 15 per cent to 3.45p.