Misys says it is on track to meet full-year targets

SOFTWARE firm Misys said yesterday it saw a gradual return to growth in banking, helped by demand for its new Bankfusion platform and the closing of delayed deals that kept revenue flat in the first half.

Chief executive Mike Lawrie said 13 customers had bought Bankfusion in the six months to November, taking the total to 26, well on track to meet its full-year target of 30, although he said the wider demand environment was cautious.

Misys, which focuses on banking and treasury and capital market (TCM) software after it sold most of its stake in its Allscripts-Misys last year, reported revenue of £161m and operating profit of £23m for its first half.

Shares in the group, which have risen by 55 per cent in the last 12 months, fell 2.95 per cent.