LONDON, July 24 /CNW/ -
Misys plc (LSE: MSY) delivers results ahead of expectations and is now
raising targets for the next phase of the turnaround. Misys generated Group
revenues(1) of GBP492m up 6%, bringing Group operating profit(2) to GBP81m,
37% ahead of last year. Misys is executing on its strategy and entering into
the next phase of the turnaround plan, building a platform for growth.
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- Revenue(1) GBP160m, up 5%
- Total order intake(5) GBP83m, up 8%
- Successful start to implementation of Misys BankFusion with
First customer contract signed
- Treasury & Capital Markets (TCM)
- Revenue(1) GBP141m, up 13%
- Total order intake(5) GBP73m, up 16%
- Launched strategic partnerships and new revenue generating
- Revenue(1) from continuing operations GBP191m, up 2%
- Total order intake(5) GBP103m, up 2%
- Stabilised, reorganised and positioned the business for growth
- Proposed merger with Allscripts on track
- Global Services (Note: revenue and total order intake included within
above business units)
- Revenue(1) GBP83m, up 19%
- Total order intake(5) GBP83m, up 16%
- Launched upgrade solution centre in India
- Open Source Solutions
- Division launched in July 2007 to drive innovation
- Focused on two key market opportunities, connecting healthcare
communities and carbon trading
- Statutory revenue: GBP492m an increase of 5% (2007: GBP469m)
- Like for like revenue(1): GBP492m an increase of 6% (2007: GBP464m)
- Statutory operating profit: GBP52m an increase of 179% (2007: GBP19m)
- Like for like operating profit(2): GBP81m an increase of 37% (2007:
- Earnings per share: basic 23.5p (2007: 3.1p); adjusted basic earnings
per share from continuing operations(3) 12.6p (2007: 7.5p)
- Full year dividends: 7.91p (2007: 7.53p)
Mike Lawrie, Chief Executive, Commented:
"Our performance over the last 12 months shows that we are ahead in
executing our strategy, delivering improvements for our customers and
achieving good results in demanding conditions. We have taken costs out ahead
of schedule, divested non-strategic assets, realigned the business,
strengthened the management team, invested in new products and services and
established winning partnerships that enable us to open up new high growth
"Misys has delivered ahead of schedule on our targets we outlined for the
first phase of the turnaround set out in the March 2007 strategy presentation.
As we move into the second phase of the turnaround and in light of the
progress we have made, we think it appropriate to update the strategic goals
for this new phase of the turnaround."
"While we remain vigilant to the challenges posed by the macro-economic
backdrop, our geographic business mix, together with our high levels of
recurring revenue, give us confidence in our ability to continue to perform.
We will sharpen our focus on competing harder, winning more, and entering
into new high growth markets. Achieving these goals will establish a longer
term platform for growth."
Webcast and dial in facility
A live webcast of the presentation to analysts will be available on the
Company's website at http://www.misys.com from 09.00 today and will be
available on demand from approximately 14.00.
A listen-only dial in facility will also be available. To access this
call please dial +44(0)20-8609-0582.
A results interview with Mike Lawrie, Chief Executive will be available
from 07.00 on http://www.misys.com and on http://www.cantos.com.
About Misys plc
Misys plc (LSE: MSY) provides integrated, comprehensive solutions that
deliver significant results to organisations in the financial services and
healthcare industries. We maximise value for our customers by combining deep
knowledge of their business with our commitment to their success.
In Banking and Treasury & Capital Markets, Misys is a market leader, with
over 1,200 customers, including all of the world's top 50 banks. In
Healthcare, Misys is a market leader, serving more than 110,000 physicians in
18,000 practice locations and 600 home care providers. Misys employs around
4,500 people who serve customers in more than 120 countries.
We aspire to be the world's best application software and services
company, delivering results for the most important industries in the world.
Misys: Experience, Solutions, Results
(1) On a like for like basis, which is at constant exchange rates for
continuing operations, excludes disposals and the incremental benefit
(2) Excludes exceptional items, gains and losses on embedded derivatives,
amortisation of acquired intangibles, translation exchange
differences recycled from reserves and the impact of acquisitions and
disposals and is stated at constant exchange rates.
(3) Excludes the results from discontinued operations, exceptional items,
gains and losses on embedded derivatives, amortisation of acquired
intangibles and the impact of translation exchange differences
recycled from reserves and is based on an average number of shares in
issue of 483m.
(4) Excludes exceptional items, gains and losses on embedded derivatives,
amortisation of acquired intangibles and the impact of translation
exchange differences recycled from reserves.
(5) Total order intake is presented on a gross basis reflecting contracts
signed during the fiscal year. Prior year amounts were previously
reported on a net basis, however for comparative purposes 2007 has
been restated to a gross basis.
Full details of Misys Preliminary Results for the fiscal year ended
31 May 2008 can be found at http://www.misys.com
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