Misys Full Year 2002/03 Financial Results
Misys plc (“Misys”), the global software products and solutions group, today announces its preliminary results for the year ended 31 May 2003, reporting earnings ahead of market expectations.
HIGHLIGHTS
- Robust operating performance in difficult market conditions
- Continued strong operating cash flow of £135m (2002: £121m)
- Competitive position strengthened through divisional restructurings
Financial
- Turnover - £1,014m (2002: £1,041m)
- Operating profit - £70m (2002: £52m)
- Adjusted operating profit* - £130m (2002: £128m)
- Net debt - £119m (2002: £159m)
- Earnings per share - Basic 7.9p (2002: 3.7p); Adjusted* 18.5p (2002: 16.4p)
- Dividend per share - Full year dividend of 5.67p per share up 15%.
* Adjusted to exclude goodwill amortisation, exceptional items and in addition, last year, the investment in B2C Internet Services.
Commenting on the results, Kevin Lomax, Executive Chairman of Misys, said:
“I am pleased to report on a year of resilient trading and continued investment for the Group. Although market conditions generally remained challenging throughout the year, we were able to improve profitability while at the same time pursuing major initiatives in each division to expand and re-position within our target markets.
“Taking the trading performance of the Group as a whole, we expect to make further progress in the current year. However, this improvement is likely to come through in the second half.”
WEBCAST
A live webcast of the analyst presentation will be available on the website at www.misys.com from 09.15am today.
Click here to download the full release of the Preliminary Results (288kB).
Click here if you have difficulty opening any of the documents.
FINANCIAL CALENDAR
Misys expects to issue its next trading update at its Annual General Meeting on 30 September 2003.
MEDIA ENQUIRIESLisa J Newman
Head of Communications
Misys plc
INVESTOR ENQUIRIES
Andrew Farmer
Head of Investor Relations
Misys plc
Andrew Farmer
Head of Investor Relations
Misys plc
ABOUT MISYS
Misys plc, the global software products and solutions group, serves customers in the international banking and securities, US healthcare, and UK retail financial services sectors. The Group also carries out transaction and claims processing for US physicians and UK Independent Financial Advisers. Misys partners with its customers to deliver outstanding IT solutions to essential industries, and employs more than 6,500 people internationally. For more information, visit www.misys.com.
