IT services provider SciSys says that first half trading is in line with expectations but worries about UK government spending mean that management is cautious about the rest of 2010 and 2011.
SciSys is less exposed to government spending than it was a few years ago. It has expanded in the broadcast systems area so the government-related work is a lower percentage. The UK generates 44% of revenues but that includes other areas. Even so, government work is still significant.
Edison Investment Research expects SciSys to increase its profit from £1.6m to £2m in 2010.
At 49.5p a share, SciSys is valued at £14.4m.
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