Unaudited Preliminary Results for the year ended 31 December 2017
SCISYS PLC (“SCISYS”, the “Company” or the “Group”), 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 2017.
- Revenues up 25% to £57.2m (2016: £45.7m), including professional fees 28% higher at £48.0m (2016: £37.6m)
- Adjusted operating profit up 44% at £4.6m (2016: £3.2m)
- Adjusted operating margin increased to 8% (2016: 7%)
- Adjusted basic EPS up 9% at 10.0p (2016: 9.2p)
- Statutory operating profit increased to £4.7m (2016: £2.8m) and basic EPS increased to 11.5p (2016: 7.6p)
- Net debt reduced to £5.9m (2016: £10.2m)
- Significant contract wins achieved in all divisions, including €18m ground station infrastructure award for the German Heinrich Hertz satellite-communications mission
- Year-end order book 41% higher at £91.3m (2016: £64.6m)
- First-time contributor to results, Annova, achieves a critical milestone on its flagship BBC newsroom computer system contract and extends its customer base with N American win
- Full-year dividend per share up 10% to 2.16p (2016: 1.96p)
Commenting on the results and prospects, Mike Love, Chairman of SCISYS PLC said:
“Our optimism and guidance for 2017 was well placed with the Group delivering a strong overall performance and entering 2018 with a record order book. Buoyant operational cash flows resulted in a substantial reduction in net debt and underpinned a healthy uplift in the recommended final dividend. Going into 2018 the outlook continues to be very encouraging”
See the full announcement for more detail.