IT services provider SciSys appears to be on track for a return to profit.
Management says that the past problems have been “substantially overcome”. There shouldn’t be any more downside from the problem contracts.
The VCS business acquired last autumn continues to prosper. It has won a new contract to supply a TV studio system to Deutsche Welle plus additional work from the space sector.
The UK government division is developing an integrated penalty fares and prosecution management system for London Underground.
The shares rose 1.5p to 39.5p, valuing SciSys at £11.3m. The company is valued at less than 20 times forecast 2008 earnings.
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