Scisys swings to H1 pretax profit, reinstates divi
Source - SMW
Scisys has swung to an H1 pretax profit of £973,000, from a year-ago loss of £1.2m. It reinstated an interim dividend at 0.53p a share.
Chairman Mike Love said:
"We are pleased with this bounce back to profitability and healthy organic growth in revenues at the half-year mark. At this point in time we fully anticipate that we can achieve the uplift in full year market expectations as announced in our trading update in August."
- Operating profit at £1.1m (2015: loss of £1.1m).
- Revenue up 35% to £22.2m (2015: £16.5m).
- Strong closing half year order book of £35m (2015: £28m).
- Net funds of £1.4m (2015: net debt £1.9m).
- Basic earnings per share at 2.8 pence (2015: loss per share of 4.9 pence).
- The South African Broadcasting Corporation buys dira! from M&B division.
- ESD provides support to Vodafone for the UK national 105 phone line service.
- Space division secures over £3.2m of new contracts, mainly from existing programmes.