'Solid' period for SciSys

Wednesday, 26th September 2012

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The Chippenham-based business has reported revenue of £19.6m for the six months to 30 June 2012 – compared with £22m for the same period last year.

Pre-tax profit has fallen from £1.1m in 2011 to £934,000.

SciSys said the fall in revenue is mainly because of “timing differences than the underlying activity levels” within the business.

It said its results for the first half of 2011 were “distorted” by accelerated public sector spending ahead of government cuts and added a number of its customers had deferred spending decisions until the end of the London Olympics.

SciSys chairman Mike Love said: “Following a stronger than anticipated first half of the current financial year we are now expecting a more balanced second half performance.

“We are particularly encouraged by the continued improvements in margins in our core professional fees; this is the key metric which we measure our business by. With a healthy order book and pipeline we look well set to deliver further progress in the second half of 2012.”

The business said its trading outlook “remains positive” with an order book of £25.3m at the end of July – an 8 per cent increase on the position in July 2011. It added it expects to meet full year expectations and is continuing to search for “appropriate acquisition opportunities”.

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