17 October 2017
Register now

Misys Q3 revenue growth boosted by BankFusion momentum

06 April 2011  |  6359 views  |  0 Financial Graph on screen

UK fintech vendor Misys has posted a seven per cent revenue rise for the third quarter, boosted by a return to growth for its banking unit as customers sign for the new BankFusion product.

The firm's interim management statement shows revenues up to £85 million with order intake soaring 34% to £49 million for the quarter.

This was boosted by six new customers for BankFusion, finally returning the banking division to growth with a modest two per cent rise on the same period the previous year.

Order intake was up 17% for the unit with Misys' trade services and payments technology also contributing. Global Services orders were up 28%.

Meanwhile, treasury and capital markets revenue continued to grow, up 11% for the quarter with order intake rising 50%. A total of eight new customers were added, while global services orders increased 86%.

Mike Lawrie, CEO, Misys, says: "We have seen good momentum in the third quarter, with order intake growth of 34% and revenue growth of 7%. Our new solutions continued to accelerate, contributing 59% of ILF orders in the third quarter, compared with 33% in last year's third quarter."

In February the company also completed its acquisition of Sophis and sold off its remaining shares in Allscripts for £85 million net of fees. It is returning £670 million to shareholders from the Allscripts disposal, with the final £145 million paid out during Q4.

Shares in Misys were up 11.2 pence, or 3.4%, in mid-morning trading.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Misys agrees £375m Sophis acquisition

Misys agrees £375m Sophis acquisition

12 November 2010  |  13467 views  |  0 comments
Misys Q1 revenue flat

Misys Q1 revenue flat

29 September 2010  |  6129 views  |  0 comments
Misys to sell healthcare unit stake; analysts talk up break-up value

Misys to sell healthcare unit stake; analysts talk up break-up value

09 June 2010  |  8158 views  |  0 comments
Banking unit drags down Misys in H1

Banking unit drags down Misys in H1

14 January 2010  |  6088 views  |  0 comments
Misys banking division continues to feel the pain

Misys banking division continues to feel the pain

30 September 2009  |  7953 views  |  0 comments
Misys reports solid first half; CFO quits

Misys reports solid first half; CFO quits

09 January 2009  |  7227 views  |  0 comments
Misys merger plans hit by Lehman fall-out

Misys merger plans hit by Lehman fall-out

17 September 2008  |  8802 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.innotribe.comvisit www.temenos.comvisit www.vasco.com

Top topics

Most viewed Most shared
Ripple looks to drive bank adoption with $300m XRP rebate programmeRipple looks to drive bank adoption with $...
14794 views comments | 12 tweets | 4 linkedin
Swift positive on blockchain, but big challenges remainSwift positive on blockchain, but big chal...
8142 views comments | 15 tweets | 21 linkedin
hands typing furiouslyHow artificial intelligence can deliver a...
7465 views 0 | 7 tweets | 9 linkedin
satelliteGates Foundation backs Ripple collaboratio...
6765 views comments | 13 tweets | 7 linkedin
IBM uses blockchain to improve cross-border payments processingIBM uses blockchain to improve cross-borde...
6107 views comments | 8 tweets | 16 linkedin

Featured job

Competitive base, double ote, benefits
London, UK

Find your next job