Software and services provider Misys will report higher revenues and profits from its banking division next month, as banks continue to increase their IT budgets.Speaking in advance of the company's full-year results announcement next month, Misys chief executive Kevin Lomax said: "Overall I am quite pleased. This demonstrates continuing momentum in the second half of the year."
Sales to both wholesale and retail banks had been strong, Lomax said, with overall banking revenues up 7%, like for like. Initial licence sales were up 16% and operating margin rose two points from 16% to around 18%.
The company's order book also rose, which, Lomax said, was partly due to a trend for larger contracts runnning for longer periods.
Misys made banking sales of £240.2 million last year, with total sales of £899.9 million. Final results are due on July 21.
More on Technology
Julia Philipp recommends targeted defences, data sharing and response planning
CenturyLink will ultimately make analytics tools available as managed service in its cloud infrastructure
Competition intensifies in battle for Asia structured products market
IT systems not geared for trade reporting under EU anti-manipulation law
Sign up for Risk.net email alerts
Sponsored video: MarketAxess
Sponsored video: Tradeweb
Multifonds talks to Custody Risk on being nominated for the Post-Trade Technology Vendor of the Year at the Custody Risk Awards 2014
Sponsored webinar: IBM Risk Analytics
There are no comments submitted yet. Do you have an interesting opinion? Then be the first to post a comment.