Patsystems profits soar

Patsystems profits soar

London screen dealing firm Patsystems is reporting pre-tax profits of £1.63 million for the year to 31 December 2006, a 353% increase from £0.36 million in 2005.

The vendor says cash flows from operating activities also grew to £2.69 million from £0.84 million in 2005. Underlying group turnover increased by £2 million (15%) to £15.3 million from £13.3 million last year.

Based on these results, AIM-listed Patsystems says its board will recommend the payment of an inaugural dividend to shareholders of 0.3 pence per share.

During the period Patsystems says it delivered 12 new trading system software installations globally in 2006 for existing and new customers including JP Morgan in London, Citigroup in New York and Singapore and CFETS in China.

Looking ahead Patsystems chairman Stewart Millman says trading this year has "continued in line with business plans and the board remains comfortable with current market expectations for 2007 and, early though it is, 2008".

Read the full results statement here:» Download the document now 90.6 kb (Adobe Acrobat Document)

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