29 March 2011 – preliminary results
The software and IT group Scisys has announced its results for the year to 31 December and these have revealed a 5% increase in revenues to £43.6m (2009: £41.7m). Adjusted pre-tax profits rose by 24% to £2.1m (2009: £1,7m) and earnings per share on the same basis were a same again 5.0p, with 2010 suffering from a higher tax charge. The dividend for the year was increased to 1.1p (2009: 1.0p) and the strong cash generation meant that the group ended the year with net cash of £4.9m (2009: £2.4m.
The new financial year has started well and we continue to rate the shares as a BUY.