Order boost puts SciSys on launch pad for further growth this year

January 24, 2014

A healthy intake of orders at the end of last year has given specialist software and IT group SciSys a “solid opening” to 2014, it said today, while also signalling that it would look for further acquisitions.

The international group, which works with governments, media groups, defence companies and space agencies and has a major base in Bristol, told shareholders its order book was now strong and it had an encouraging new business pipeline which was underpinning expectations for the year.

As a result, directors said they believed the group, which is headquartered in Chippenham, could deliver further profitable progress this.

“Acquisition opportunities will continue to be monitored by the board during the year and will be pursued where strategically appropriate,” the group said in a trading update to the London Stock Exchange.

Founder and long-standing chairman Dr Mike Love said: “Despite several challenges during the second half I am pleased to report that our full year results for 2013 will be in line with expectations and that the company has been able to deliver another performance which emphasises the resilience of the group as a whole.”

The enterprise solutions & defence (ESD) division traded with increasing confidence in the second half of 2013, securing several new contract wins in the final quarter, the group said.

The space division, which works on satellite communication technology, also performed well. However, deferred procurement activity among its existing and prospective customer base continued to have an adverse impact on the order intake of the media & broadcast division.   

The statement said a restructuring of the group during the second half, which focused on aligning its cost base with changes in its operating markets, will be felt fully this year.

 Preliminary results for the year to December 31 are expected to be posted on March 26.





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