MISYS DELIVERED SUCCESSFUL FIRST HALF: FLEXIBLE BUSINESS MODEL DELIVERING RESULTS
Misys plc (FTSE: MSY.L), the global application software and services company, today (30 January 2009) announces its interim results for the six months ended 30 November 2008.
Misys delivers a good financial performance within targeted range and continues its positive momentum as it executes its business strategy:
• Revenue growth across all business divisions despite difficult market conditions
• Misys continues to invest in new products, new delivery models and packaging and we are starting to see results
• Strengthened partnerships and new collaborations to enter new and growing markets
• Developed flexible and adaptable business model, with high recurring revenues, diverse product lines and business units, geographic diversity and increased presence in US Healthcare
• Misys BankFusion Universal Banking Solution went live at Standard Bank of South Africa on schedule, with a second customer announced
• Merger of Misys Healthcare Systems business with Allscripts Healthcare Solutions to create Allscripts-Misys Healthcare Solutions, Inc
• AllscriptsMisys integration is on schedule with the benefits of some of the synergies already coming through
• Misys strengthened the Board with the appointment of Philip Rowley as a Non Executive Director. Misys today announced the appointment of Sir James Crosby as a Non Executive Director and Chairman Designate
As reported results
• Revenue up 22%: £280m (2007: £230m)
• Operating profit from continuing operations nearly tripled to: £72m (2007: £25m)
• Adjusted operating profit from continuing operations up 3%¹: £36m (2007: £35m)
• Total gross order intake2 up 34%: £164m (2007: £121m)
• Basic earnings per share: 14.7p (2007: 19.6p)
• Adjusted basic earnings per share from continuing operations3: 3.7p (2007: 5.1p)
Proforma like for like results4
• Revenue up 6%: £349m (2007: £328m)
• Operating profit up 9%: £51m (2007: £47m)
• Total gross order intake £199m (2007: £198m)
MIKE LAWRIE, CHIEF EXECUTIVE COMMENTED:
“Misys delivered a good financial performance with revenue growth across all business units. These results are another proof point that we are executing our business strategy and the strength of our business model.
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.
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.”
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