Misys plc, the global software and solutions company, today (18 January 2007) announces its interim results for the six months ended 30 November 2006.
Commenting on the results, Mike Lawrie, Chief Executive, Misys plc, said:
"Our Treasury & Capital Markets business is growing well as a result of its revamped product portfolio and Core Banking is making some progress. However, in Healthcare, our performance was unacceptable and we have taken action to address this - early indications are positive and we will take further action if necessary.
"It is clear to me since joining Misys that given not only the growth opportunities in the core markets in which we operate, but also internal initiatives we can pursue, we have the potential to deliver much greater performance. As I outlined in December, we are in the process of developing a full turnaround plan for Misys to deliver value for our customers, employees and shareholders. I'll be saying more about our plans in early March."
Financial results
- Revenue: £468m (2005: £465m)
- Operating profit: £36m (2005: £41m)
- Adjusted operating profit¹: £41m (2005: £38m)
- Like for like operating profit²: £43m (2005: £36m)
- Earnings per share: Basic 4.8p (2005: 5.7p); Adjusted basic³ 5.9p (2005: 6.3p)
- Interim dividend: 2.82p, up 5%
- Net debt: £136m (2005: £300m)
Business highlights
- Banking delivered solid revenues and some margin recovery
o Treasury & Capital Markets - good growth on back of revamped product portfolio
o Core Banking - progress following reorganisation last spring - Healthcare - overall performance unacceptable, action taken to mitigate and improve performance
o good growth in maintenance revenue
o order intake fell across the division - Sesame: strong improvement in operating profit
- Turnaround plan well under way and significant new management appointments
1 Excludes exceptional items, gains and losses on embedded derivatives and amortisation of acquired intangibles.
2 Excludes exceptional items, gains and losses on embedded derivatives, amortisation of acquired intangibles, the impact of acquisitions and disposals and is stated at constant exchange rates.
3 Excludes exceptional items, gains and losses on embedded derivatives, amortisation of acquired intangibles and exchange gains and losses on debt previously hedging goodwill written off to reserves.
WEBCAST
A live webcast of the presentation to analysts will be available on the Company's website at www.misys.com from 09.00 today and will be available to view on demand from approximately 14.00.
A results interview with Mike Lawrie, Chief Executive, will be available from 07.00 on www.misys.com and on www.cantos.com.
ANALYST / INVESTOR ENQUIRIES
Alex Dee
Tel: +44 (0) 20 7368 2336
Mob: +44 (0) 7989 017 979
Email: alex.dee@misys.co.uk
MEDIA ENQUIRIES
| Susan Cottam | Josh Rosenstock |
| Tel: +44 (0) 20 7368 2305 | Tel: +44 (0) 20 7368 2327 |
| Mob: +44 (0) 7957 807 721 | Mob: +44 (0) 7921 910 914 |
| Email: susan.cottam@misys.co.uk | Email: josh.rosenstock@misys.co.uk |
ABOUT MISYS PLC
Misys plc (FTSE: MSY), the global software and solutions company, is one of the world's largest and longest-established providers of industry-specific software. Founded in 1979, Misys serves the international banking and healthcare industries, combining technological expertise with in-depth understanding of customers' markets and operational needs. In banking Misys is a market leader with over 1,200 customers, including 49 of the world's top 50 banks. In healthcare Misys is also a market leader, serving more than 110,000 physicians in 18,000 practice locations, 1,200 hospitals and 600 home care providers. Through Sesame, a wholly-owned subsidiary, the company is also a leading provider of support services to financial advisers in the UK. Misys employs around 6,000 people who serve customers in more than 120 countries. For more information, visit www.misys.com.
View full interim results presentation