Results raise Misye shares

Shares in the Misys financial services group taking in the Kindle banking systems business in Dublin surged 115p to £21

Shares in the Misys financial services group taking in the Kindle banking systems business in Dublin surged 115p to £21.75 - more than double the past year's low of £10.64 - on record interim results, writes Sebastian Taylor in London.

First half profits up 36 per cent at £32 million sterling earned on turnover up 24 per cent at £178 million sterling with particularly strong sales growth of 42 per cent to £104 million sterling achieved by the banking division.

The closing order book in November was 88 per cent higher partly due to Kindle's success in gaining a long-term technical support contract for a major international bank. Although prospects in the Asia Pacific are uncertain, Misys chairman Mr Kevin Lomax says the outlook for the banking division "look particularly good". Full-year prospects for the group as a whole remain "most encouraging," commented Misys chairman Mr Lomax.

The interim dividend is up 15 per cent at 5.26p on earnings per share up 36 per cent at 27.0p.