Misys Plc reports 22 per cent revenue rise for half-year

Misys Plc reports 22 per cent revenue rise for half-year

Claims profits were a result of new software solution adoption

Banking software provider, Misys Plc, has reported an order intake of £109 million for the six-month period ending November 30, 2011. This was an increase of 34 per cent and up three per cent on a pro-forma basis.

Company revenue was up 22 per cent following the acquisition of Misys Sophis.

Misys Plc said that although market conditions had been challenging, it delivered profits as businesses had adopted its new solutions.

Its major growth markets were Asia, Middle East, Africa and Eastern Europe, with 68 per cent of new customers from that region.

Misys Plc said it will increase its investment in developing new solutions.

“Our medium-term financial targets, for the two years to 31 May, 2013, are unchanged: annual revenue growth of five to eight per cent and adjusted operating margins of 20 to 23 per cent,” Misys Plc chief executive, Mike Lawrie, said.

He said given the uncertainty of the economic situation, contingency plans have been put in place to eliminate £6 to £8 million of operating costs to support financial results without impacting product development investments or sales capacity.

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