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."

HIGHLIGHTS:

- 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.  




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