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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