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SCISYS hopeful of more progress in 2013

SCISYS hopeful of more progress in 2013


IT services company SCISYS (LON:SSY) has revealed that it performed as expected in its latest financial year.

The company's adjusted underlying earnings (EBITDA) for the year should be consistent with market expectations when it reports on March 21, showing further improvement in net operating margins.

Though cautious about the outlook, SCISYS believes the business is “capable of further progress in 2013”.

Chairman Mike Love said: “Despite several challenges during the second half I am pleased that our full year results for 2012 are in line with expectations and that the company has been able to deliver another good performance, yet again demonstrating the underlying resilience of the SCISYS business.”

He added that more margin growth remains the key focus for SCISYS.

The company said cash inflows have remained strong and continue to underpin its dividend policy.

While the markets in which it operates remain difficult, it anticipates reporting a “healthy” opening order book and new business pipeline for 2013.

Organic revenue growth is likely to remain a challenge in the UK public sector, it added.


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