Misys revenue on the climb

City A.M. Reporter
Software firm Misys posted a seven per cent rise in third-quarter revenue, its strongest performance in the year to date, as its products serving banks and financial markets won new customers.

Misys, which focuses on banking and treasury and capital market software after it sold most of its stake in its Allscripts-Misys joint venture, said revenue in the quarter was £85m, taking it into positive territory for the year to date.

The group said TCM orders rose 50 per cent, helped by some orders delayed from the second quarter closing. It became the leader in the sector, with about a third of the market, when it bought Dublin-based Sophis for £375m in November.

Misys also said on Wednesday that it had won six new customers for its Bankfusion platform, taking the total to 19 in the year to date.

The company said it was on track for its medium-term target of five to eight per cent annual revenue growth and adjusted operating margins of 20-23 per cent, unchanged from its first-half results in January.