By Ron Coates, 26 January 2001 15:00
NEWS Misys even promised a return to 20 per cent growth, despite the fact that pre-tax profits for the half year were down 23 per cent on the previous year at £37.4m. Turnover was up substantially at £413m from the figure for the same quarter the previous year of £344m. Kevin Lomax, chairman of Misys, said: "We have seen a significant recovery in orders in both our banking and healthcare divisions in the US, with strong associated demand at our professional services division." ERP specialist Baan announced it was back in the black, six months earlier than it had hoped. The turnaround was achieved in its third quarter to December, only five months after automation and controls group Invensys rescued the ailing software company after nine successive quarters of loss. Total sales climbed 37 per cent on the previous quarter to $100m and licence revenue trebled to $32m. French software and services group Cap Gemini sailed through the turbulent waters of last year, with just over 10 per cent growth in turnover and profits, despite absorbing the consultancy arm of Ernst & Young through an $11bn acquisition completed last May.
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