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Misys profits up

Misys announced its best ever results this morning, with profits up 11 per cent to £140m for the year to May 2001, compared to £126m for the previous year, although its chairman is expressing caution about the future.

Its strong growth in the financial services sector produced a revenue increase of 53 per cent to £314m in 2001 from £205m in 2000, with operating profit up 44 per cent to £27m in the sector. Misys&#39s healthcare and banking sectors also showed growth of 8 per cent and 9 per cent respectively.

Misys chairman Kevin Lomax says: “The international spread and mix of our business activities, together with the resilient nature of our recurring revenues, will ensure the Group is well positioned against a background of weaker demand in the world economy.”

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