Unaudited preliminary results for the year ended 31 December 2016
SCISYS PLC ("SCISYS"; AIM SSY), the supplier of bespoke software systems, IT-based solutions and support services to the Media & Broadcast, Space, Government, Defence and Commercial sectors, is pleased to announce its unaudited Preliminary Results for the 12 months to 31 December 2016.
- Adjusted operating profit up to £3.2m (2015: £0.8m);
- Revenues up by 27% (17% on constant currency) to £45.7m (2015: £36.1m) including professional fees up 26% at £37.6m (2015: £29.8m);
- Adjusted basic earnings per share up to 9.2p (2015: 1.3p);
- Recommended full-year dividend up 10% to 1.96p (2015: 1.78p) (subject to shareholder approval at the AGM);
- Completed the acquisition of ANNOVA Systems GmbH, a leading supplier of news editorial solutions for the media sector for up to €27.83m, as of 31 December 2016;
Opening order book (excluding ANNOVA £30m) for 2017 of £34m (2016: £37m);
All divisions secured major contract wins and contributed to the strong organic growth. New contracts won in 2016 with clients including: Ministry of Defence, BBC, South African Broadcasting Corporation, Vodafone, European Space Agency, EUMETSAT and OneWeb.
Commenting on the results and prospects, Mike Love, Chairman of SCISYS PLC said:
"I am delighted to report a very healthy performance by SCISYS. Our 2016 results are comfortably in line with the increased guidance given at the time of our interim results. Recently announced contract wins mean that the positive momentum seen in the second half of 2016 is continuing into 2017. Following the recent acquisition of ANNOVA Systems GmbH, we anticipate delivering further top-line and bottom-line growth during the course of this year."
See the full announcement for more detail.