Microgen “cautiously positive”

(By Anthony Miller – Wednesday, 22nd April 2009 7:45am). It’s pleasing to see an upbeat trading statement amongst all the gloom and doom. Microgen (see here) reported a ‘good start to the year’ in spite of ‘unpredictable’ markets. Once again it was Microgen’s business process management division (Aptitude) which led the way, while Billing Services and Financial Systems remained depressed (see Microgen's conundrum). Cash generation looks good with cash on hand up £1.6m from the end of last year to £16.3m. It’s this, along with share buybacks and dividends that keeps investors interested. Indeed, earlier this month Microgen’s shares almost reached a two-year high at 54p though are now a little below 50p.