UK financial software company Systems Union is celebrating a 35 per cent increase in its year end revenues.
Worldwide revenues from the company's Sun Systems multi-platform accounting suites increased from #31.2 million in 1995 to #42 million in 1996 while pre-tax profits jumped 73 per cent to #4.55 million.
These profits have enabled the company to spend #4.5 million on research and development, to open new offices in the Americas and Asia Pacific, and to increase staff numbers to 443.
Revenues from the UK market grew by 25 per cent to #13.4 million in 1996. The company attributes this to sales of its client/server and NT-based offerings.
Simon Edwards, chief operating officer Europe, said: ?Microsoft?s Windows NT is becoming the platform of choice for the majority of middle market companies in Europe and in particular in the UK. Also the client/server sites of Sun Systems have grown to account for 40 per cent of new systems sales worldwide.?
International revenues accounted for 68 per cent of total earnings while the European region as a whole grew by 26 per cent to generate #24.47 million.
?We have the necessary financial stability, strong management team and customer focus to be in the top three global players of mid-market business applications within five years. We will do this by increasing our global geographical spread, launching a new application strategy to broaden the functional range of Sun Systems and announcing our new systems architecture that will take our product beyond 2000,? said John Pemberton, chairman of Systems Union.
The new implementation of Sun Systems is expected next year and is likely to include new functions, such as EMU support, and new architectural features such as Java links.
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