Profits increase for financial software group
Systems Union has posted 'better than expected' year-end figures and proposed its first dividend.
The group, which owns financial software companies Pegasus Software and Foundation Systems, increased its profit after tax to £5.7m from £3.9m in 2002, while revenue increased to £78.4m from £74.6m.
Its inaugural dividend has been set at one pence, and should be paid to shareholders on 27 May.
‘While never complacent, we believe that we have the pieces in place for continued success,’ said chief executive Paul Coleman.
Systems Union continued its consolidation strategy during the second half of 2003 with four acquisitions, which included business intelligence software company MIS.