Financial Express (Holdings) Limited (“we”, “our”, “us” and derivatives) are committed to protecting and respecting your privacy. This Privacy Policy, together with our Terms of Use, sets out the basis on which any personal data that we collect from you, or that you provide to us, will be processed by us relating to your use of any of the below websites (“sites”).

  • FEAnalytics.com
  • FEInvest.net
  • FETransmission.com
  • Investegate.co.uk
  • Trustnet.hk
  • Trustnetoffshore.com
  • Trustnetmiddleeast.com

For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.

WHAT INFORMATION DO WE COLLECT ABOUT YOU?

We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

We may collect information about your computer, including where available your operating system, browser version, domain name and IP address and details of the website that you came from, in order to improve this site.

You confirm that all information you supply is accurate.

COOKIES

In order to provide personalised services to and analyse site traffic, we may use a cookie file which is stored on your browser or the hard drive of your computer. Some of the cookies we use are essential for the sites to operate and may be used to deliver you different content, depending on the type of investor you are.

You can block cookies by activating the setting on your browser which allows you to refuse the setting of all or some cookies. However, if you use your browser settings to block all cookies (including essential cookies) you may not be able to access all or part of our sites. Unless you have adjusted your browser setting so that it will refuse cookies, our system will issue cookies as soon as you visit our sites.

HOW WE USE INFORMATION

We store and use information you provide as follows:

  • to present content effectively;
  • to provide you with information, products or services that you request from us or which may interest you, tailored to your specific interests, where you have consented to be contacted for such purposes;
  • to carry out our obligations arising from any contracts between you and us;
  • to enable you to participate in interactive features of our service, when you choose to do so;
  • to notify you about changes to our service;
  • to improve our content by tracking group information that describes the habits, usage, patterns and demographics of our customers.

We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

In order to provide support on the usage of our tools, our support team need access to all information provided in relation to the tool.

We will not disclose your name, email address or postal address or any data that could identify you to any third party without first receiving your permission.

However, you agree that we may disclose to any regulatory authority to which we are subject and to any investment exchange on which we may deal or to its related clearing house (or to investigators, inspectors or agents appointed by them), or to any person empowered to require such information by or under any legal enactment, any information they may request or require relating to you, or if relevant, any of your clients.

You agree that we may pass on information obtained under Money Laundering legislation as we consider necessary to comply with reporting requirements under such legislation.

ACCESS TO YOUR INFORMATION AND CORRECTION

We want to ensure that the personal information we hold about you is accurate and up to date. You may ask us to correct or remove information that is inaccurate.

You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.

WHERE WE STORE YOUR PERSONAL DATA

The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.

CHANGES TO OUR PRIVACY POLICY

Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.

OTHER WEBSITES

Our sites contain links to other websites. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.

CONTACT

If you want more information or have any questions or comments relating to our privacy policy please email publishing@financialexpress.net in the first instance.

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Misys PLC (MSY)

  Print      Mail a friend       Annual reports

Monday 19 March, 2012

Misys PLC

Interim Management Statement

RNS Number : 5646Z
Misys PLC
19 March 2012
 

19  MARCH 2012


MISYS INTERIM MANAGEMENT STATEMENT

 

Misys plc (FTSE: MSY.L) Interim Management Statement, including unaudited financial information for the three months ended 29 February 2012.

 

Highlights

 

All comparisons against prior year periods are on a constant currency basis and are pro-forma for the acquisition of Sophis.

 

·      Revenue down 3% for the year to the end of the third quarter (third quarter: down 12%).

·      Order Intake down 5% for the year to the end of the third quarter (third quarter: down 18%).

·      Customers delayed, but did not cancel, software licence purchase decisions during February as they awaited the outcome of the discussions on the future ownership of Misys. Nevertheless we added 15 new customers in the third quarter.

·      Misys Sophis order intake for the year to the end of the third quarter up 2% (third quarter: up 16%) with 7 new customers in the third quarter, including a tier 1 French institution, adopting Sophis Value for asset management.

·      TCM order intake for the year to the end of the third quarter down 14% (third quarter: down 45%), reflecting a large sale to Bayerische Landesbank during the prior year's third quarter.

·      Banking order intake for the year to the end of the third quarter up 2% (third quarter: down 1%), including a tier 1 US bank adopting Trade Innovation Plus for trade finance.

·      BankFusion live customers have increased to 16 with five recent go-lives, including National Bank of Kenya with BankFusion Universal Banking, United Arab Bank in Sharjah, a new Misys customer, and Habib Bank, the largest bank in Pakistan.

·      Net debt reduced to £107m at 29 February 2012 (30 November 2011: £149m), reflecting strong cash collection during the third quarter.

 

 

Misys Acting Chief Executive Tom Kilroy comments,

'Our third quarter results were impacted predominantly by the cautious approach adopted by customers whilst discussions were taking place about the future ownership of Misys, and also by continued challenging conditions in financial markets. However, we are confident that sales are being delayed rather than cancelled.

 

We are pleased that Misys Sophis continued to build up sales momentum with 7 new customer wins bringing strong orders growth for the third quarter. In addition the two large tier 1 customer wins demonstrate the relevance of our product offerings to banks of all sizes.

 

Notwithstanding the current uncertainties, Misys remains strong with new and existing customers adopting our market-leading software solutions.'

 

 



 

Divisional Results

 

Pro-forma, constant currency

£m

3rd quarter


Year to date

2011/12

2010/11

% growth



2011/12

2010/11

% growth










Order Intake

52

63

(18%)



161

169

(5%)

of which









Banking

18

18

(1%)



61

60

2%

TCM

17

30

(45%)



59

69

(14%)

Misys Sophis

17

15

16%



40

39

2%










Revenue

89

100

(12%)



286

294

(3%)

of which









Banking

33

37

(11%)



109

115

(5%)

TCM

42

48

(12%)



131

131

-

Misys Sophis

14

15

(12%)



46

48

(5%)

 

In light of the offer for the company announced today, Misys is withdrawing its previous medium-term revenue growth and operating profit margin targets as last announced on 26 January 2012 with the Misys results for the six months ending November 2011.

 

The previous medium-term revenue growth and operating profit margin targets would constitute a profit forecast and would need to be reported on as part of Rule 28 of the Takeover Code.  Misys believes that it is not possible to report on the profit forecast as there is too much uncertainty in the current market environment over the next two years and hence the profit forecast is being withdrawn and should not be relied upon.

 

 

Notes

 

Pro-forma constant currency results

For comparative purposes, prior year results are adjusted by the retranslation of results at current year exchange rates and by the addition of results from Sophis before its acquisition, at current year exchange rates.

 

The key average exchange rates for the quarter to 29 February 2012 are US$1.57:£1 and €1.196:£1 compared to US$1.58:£1 and €1.18 for the February quarter in 2011.  For the year to date comparisons, the average exchange rates for the current year are US$1.59:£1 and €1.16:£1 compared to US$1.1.56:£1 and €1.19 for the prior year.

 

 

Analyst / investor enquiries

Media enquiries

Phil Branston

T: +44 (0) 203 320 5503

M: +44 (0) 789 906 5115

phil.branston@misys.com

Mike Smith

T: +44 (0) 2074045959

 

misys@brunswickgroup.com

 

 

About Misys

Misys (FTSE: MSY.L) provides integrated, comprehensive solutions that deliver significant results to organisations in the financial services industry. Misys maximises value for its customers by combining deep knowledge of their business with commitment to their success. In banking and in capital markets, Misys is a market leader, with over 1,300 customers, including all of the world's top 50 banks. Misys employs approximately 4,200 people who serve customers in more than 120 countries. Misys aspires to be the world's best financial services application software and services company.

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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