UK software and services company Misys reported strong profit and turnover in its interim results, as well as the sale of eight subsidiary companies in a bid to increase its focus on its core finance and healthcare markets.
The Worcestershire based company reported revenue for the six months ending 30 November, 1998, of #288 million, up 62 per cent on the same period last year. Pre tax profit rose 83 per cent, up to #59 million from #32 million for 1997.
Kevin Lomax, chairman of Misys, said the group had made strong progress with its assimilation of Medic last year. Medic is a US healthcare software company.
Misys also announced the sale of eight companies in its Information Systems division to a group of investors, including Kleinwort Benson Development Capital and members of the management team, for #29.7 million in cash.
Misys said the sale of the companies would help it focus on the financial and healthcare markets. The companies provide software applications for a range of industries, including construction, travel, manufacturing, and hotel services.
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