SciSys sees further recovery after positive end to first half

July 24, 2014

Chippenham-based specialist software and IT group SciSys today pointed to further growth as it continues to recover from tough conditions last year in its core markets.

In a trading update for the six months to June 30 – and prior to it entering its close period – directors said the first half of 2014 had finished positively and they were confident that results will be in line with management expectations. 

The firm, which supplies highly-complex systems to the global space, defence and media industries, now boasted a ‘robust’ order book as it entered the second half, while it continued to achieve margin growth and operational efficiencies.

Revenues came under pressure last year as the firm warned its markets remained “stubbornly challenging”.

As well as its headquarters in Chippenham, SciSys also has offices in Bristol and Reading and three bases Germany. Its blue-chip customers include the Ministry of Defence, European Space Agency and major broadcasters.

Shares rose following the update and by mid-afternoon were trading up 2.5p, or 2.82%, at 91p.

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