Misys Posts Profit
Misys has reported an 11% operating profit growth across the group for the second half of 2009. Reported revenue of £361m were up 29% on the first half of 2008/09. Net debt has reduced to £120m.
Chief executive Mike Lawrie commented: “We have achieved adjusted operating profit growth of 11% (pro-forma constant currency) on our adjusted basis, due to the resilience, innovation and improving efficiency of our business, despite uncertain economic conditions. Our performance was underpinned by strong recurring revenues from software maintenance, applications service provider (ASP) subscriptions and transaction processing.”