Misys plc, the application software and services company serving the healthcare and financial services markets, announces its interim results for the six months ended 30 November 2009.
Financial and operational highlights
Adjusted operating profit up 11% on pro-forma, constant currency basis; (as reported; down 32%, representing disposal of Misys Healthcare in prior year) as adjusted operating margin was raised 2% age points Adjusted basic earnings per share up 24% to 4.6p Reported revenue of 361m, up 29% on the first half of 2008/09 Revenue (pro-forma, constant currency) down 1% Recurring revenues, from maintenance, application service provider (ASP) subscriptions and transaction processing, were 62% of revenue and up 6% on prior year (pro-forma, constant currency) ASP revenues up 22% and a rising proportion of orders, as customers transition to new solutions on new delivery platforms Group order intake up 10% (pro-forma, constant currency); including Allscripts up 20% and Treasury & Capital Markets up 16% Cash conversion sharply improved and net debt reduced to 120 million from 129 million at the start of the period. Targeting Group net debt between 20 million – 30 million by 31 May 2010 Allscripts strong demand and margin improvement drive double-digit net income growth Treasury & Capital Markets strengthened its market position with 14 new customers acquired in the period The Banking division faced challenging trading conditions but saw adoption of newer products gain traction 6 customers now signed to the new BankFusion banking software platform: 2 customers added in the period, with a further 2 signed after the period end, including the first new BankFusion customer from outside our installed base Comfortable with our earnings expectations for the full year
D.C.