Application software and services group Misys PLC (LSE: MSY) said it will report a 40 percent rise in revenue from continuing operations to £695 million in the full year to end-May 2009 when it publishes full results for the period next month.
In a pre-close trading update, the group said adjusted operating profit from continuing operations increased by more than 40 percent compared with the prior year.
Chief executive Mike Lawrie commented: "We are very pleased with our performance despite continuing difficult markets. Our ability to deliver these results in a period of unprecedented economic turmoil is a great demonstration of the success of the turnaround programme.“
During the year, the merger of Allscripts Healthcare Solutions with Misys Healthcare was completed and the subsequent integration of the two companies has also been substantially completed.
Cash balances at May 31 2009 were £63 million and debt balances were approximately £193 million, giving a net debt balance of around £130 million, achieving the target management had set of reducing net debt by one-third in the second half of the fiscal year.
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