Thursday, 23 July 2009

Misys sticks to growth targets

(By Anthony Miller – Thursday 23rd July 2009 8:30am). Confirming its FY09 results previewed last month (see Misys previews ‘improving’ FY results), Misys CEO Mike Lawrie stuck to his guns on current year growth targets, looking for 5-8% like-for-like growth and 18-20% adjusted operating margins in FY10. The year just completed saw 3% LfL growth and 17% margin (see here), so while the profitability target looks achievable, the question mark is surely over ‘organic’ growth. Misys’ ‘business of three halves’ takes some managing, with two parts in the finance sector (Banking and Treasury & Capital Markets) and the other (the largest by far), the hybrid Allscripts-Misys business, addressing the US healthcare IT market. Market conditions in none of these could best be described as plain sailing. Unfortunately, the Misys concall clashes with Capita’s so I will need to listen to this afternoon’s replay before I can put much more flesh on the bones.

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