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.”
A report by broking group Marsh examines the repercussions from the administration of the South Korean company, which filed for bankruptcy protection at the end of August.
Global research by C2FO suggests that smaller businesses are less concerned with the repercussions of Brexit and the upcoming US presidential election.
A squeeze on skilled talent means it now takes an average of seven weeks to fill open permanent roles in finance in the UK according to new research from financial services recruitment firm Robert Half.
Early-stage merger and acquisition deals in Asia-Pacific show nearly 10% year-on-year growth in recent months.