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  • BY: Andrew Hore |
  • POSTED: 24/01/2014 |

IT systems and services provider SciSys says that the 2013 figures will be in line with previous guidance.

Strong order intake provides a positive start to 2014 while second half restructuring .has lowered the cost base. The media and broadcast division has been hit by clients putting off orders but the other operations have won new contracts.

House broker finnCap forecasts a profit improvement from 2.4m to 2.9m in 2013 with slightly slower earnings growth because of an increasing tax charge. Revenues are expected to increase from 39.5m to 43.8m.

Klaus Heidrich was appointed chief executive at the beginning of 2014. The former chief executive David Jones remains as deputy chairman.

At 68.5p a share, SciSys is valued at 19.9m. The shares are trading on nine times estimated 2013 earnings, which could fall to just over eight based on a 2014 profit of 3.2m. 

The 2013 figures will be reported on 26 March.

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