Software helps Misys rise 40%
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.
Subscribe to Independent Premium to bookmark this article
Want to bookmark your favourite articles and stories to read or reference later? Start your Independent Premium subscription today.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies