Misys Q1 revenue rises but order intake falls

Misys Q1 revenue rises but order intake falls

UK fintech vendor Misys has posted a four per cent rise in revenues for the first quarter but order intake was down thanks to delayed sales at the recently acquired Sophis unit.

In its interim management statement, Misys - which saw a proposed takeover by US vendor FIS fall through over the summer - reported fourth quarter revenues of £90 million, up four million on the same period the previous year. Order intake fell though, down six per cent, thanks to a major dip at Sophis.

The treasury and capital markets division saw revenues up nine per cent to £41 million and order intake rose 13% with 11 new name wins in the quarter, including eight for Opics, with particular success in Asia and the Middle East.

Banking unit revenues rose three per cent to £34 million and order intake jumped 17%. The vendor signed three new customers to its flagship BankFusion product and claimed eight transaction banking signings.

However, Sophis revenues were up only one per cent, to £15 million, and order intake was down £6 million, or 54%. This was caused by delays in sales to three new and upgrading customers in Asia and Europe, says the vendor.

Shares in Misys were up 3.35 pence, or 1.44%, to 235.55 pence in mid-morning trading.

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