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  • BY: Andrew Hore |
  • POSTED: 05/04/2010 |

IT services provider SciSys returned to profit in 2009.

Revenues grew 9% to 41.7m, while a loss of 1.16m was turned into a profit of 510,000. The improvement partly came from a reduction in exceptional charges and amortisation. Operating margins rose from 2.3% to 4%.

The order book was worth 34.7m at the start of this year, of which 17.6m should be delivered in 2010. The first half should be strong but there is uncertainty about public spending after the general election.

The net cash position improved from 1.4m to 2.4m during 2009.

At 51.5p a share, SciSys is valued at 15m. 

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