TechnologyAccounting SoftwareProfits increase for financial software group

Profits increase for financial software group

Systems Union has posted 'better than expected' year-end figures and proposed its first dividend.

Link: Systems Union – Beating the system

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.

Related Articles

5 key tech innovations helping accountants transform their businesses

Accounting Software 5 key tech innovations helping accountants transform their businesses

3w Heather Darnell, Founder of Ask the BOSS
Finance and the tech foundation: what’s needed to deliver impactful business insights?

Accounting Software Finance and the tech foundation: what’s needed to deliver impactful business insights?

3m Workday | Sponsored
Best accounting software for businesses in the UK

Accounting Software Best accounting software for businesses in the UK

3m Accountancy Age, Reporters
Making sense of enterprise tech concepts for finance teams

Accounting Software Making sense of enterprise tech concepts for finance teams

4m Workday | Sponsored
Open Banking: what you need to know

Accounting Software Open Banking: what you need to know

4m Edward Berks, Xero
Accountancy in the digital age: Flexibility, agility, efficiency

Accounting Software Accountancy in the digital age: Flexibility, agility, efficiency

6m Pegasus Software | Sponsored
Sage purchases Intacct in its largest ever acquisition

Accounting Software Sage purchases Intacct in its largest ever acquisition

10m Alia Shoaib, Reporter
5 tips for SMEs to protect cash flow

Accounting Software 5 tips for SMEs to protect cash flow

10m Alia Shoaib, Reporter