Interim Results for the Six Months Ended 30 June 201820th September 2018
SCISYS PLC (“SCISYS”), the supplier of bespoke software systems, IT-based solutions and support services to the space, media & broadcast, government, defence and commercial sectors is pleased to announce its interim results for the half year to 30 June 2018. The Directors anticipate that SCISYS will deliver further year-on-year growth in 2018, and that trading results will be more evenly spread over the two halves of the financial year than in previous years.
Financial and Operational Highlights:
- Adjusted operating profit up to £2.5m (2017: £1.2m restated).
- Revenues up 13% to £28.7m (2017: £25.3m restated).
- Half-year order book approaching £100m (2017: £64m).
- Net debt reduced to £3.3m (2017: net debt £9.0m).
- Interim dividend up 10% at 0.65 pence per share (2017: 0.59p).
- Adjusted basic earnings per share 6.1p (2017: 1.4p).
- ESD division had a particularly strong first half year, with a number of key contract extensions.
- M&B division renewed a long-term BBC maintenance contract extension by at least 7 years.
- Early termination of Annova ring-fencing arrangements agreed with former owners to close out the earnout period and accelerate potential integration gains.
- BBC’s flagship TV news programmes now running live on OpenMedia software.
- Space division had an excellent first half year and secured a €3.9m contract for the EGNOS programme.
Mike Love, Chairman of SCISYS, commenting on the results, said: