Misys Reports Revenue Growth Across All Divisions

Misys, banking systems vendor, highlights positive first half performance and makes new appointment in the staff. James Crosby, former chief executive of UK banking group HBOS, is named chairman designate. During the first half all divisions of Mysis were profitable.

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Misys, banking systems vendor, highlights positive first half performance and makes new appointment in the staff.

James Crosby, former chief executive of UK banking group HBOS, is named chairman designate. During the first half all divisions of Mysis were profitable. Adjusted operating profit from continuing operations was 3% up to 36 million, with revenues of 280 million.

In the banking division, Misys reports revenues of 84 million, 5% ahead of last year, and operating profit up 52% at 14 million. Total order intake was 44 million, 4% up compared to the same period last year, with revenues from Initial License Fees up 14% at 23 million. The first half performance saw 12 new name wins and 136 go lives.

The treasury and capital markets division reports revenue at 73 million, 6% ahead of last year, and a steady operating profit of 14 million. Total order intake at 33 million was 5% up from the comparable period last year.

ILF revenue was 8% down at 17 million, relative to a strong year-ago result which benefited from the carry over of contracts signed in previous periods. ILF order intake at 17 million was up 11% compared to the same period last year.

“The diversity of our products and solutions, business units, and geographic footprint, together with our strong recurring revenue and the fact that 55% of our revenues now come from the Healthcare market in America, is helping to drive growth, despite the difficult economic environment,” says Mike Lawrie, CEO.

“We continue to invest in products and services, building strong growth platforms, while reducing and controlling costs to ensure that Misys is positioned to take advantage of future opportunities. While we are conscious of the difficult environment, we remain optimistic that we will deliver against our full year targets.”

L.D.

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