Total Systems PLC - Final Results
July 07 1997 - 4:00AM
UK Regulatory
RNS No 9610r
TOTAL SYSTEMS PLC
4th July 1997
Chairman's Final Results Statement
There has been a significant improvement in trading in the last year with annual
turnover increasing by 13% and UK turnover showing an increase of 21%. Profit
before tax at #412,545 is 86% up on last year. Profit for the year would have
been significantly greater had the year not started with a client company going
into provisional liquidation and ended with another client in administrative
receivership. As a result of the improvement in performance a final dividend of
0.75p per share is proposed, making the total dividend for the year 1.25p per
share. This represents an increase of 25%.
The current financial year is starting with higher volume and prospects than has
been the case for many years. This trend is showing every sign of continuing.
The interest in our Ultima insurance system multiplies and enquiries for our
Optima investment management system are increasing. Both these systems address
the requirements of the whole range of users in the insurance and investment
management sectors and offer "state of the art" future proofed business
solutions. All our current systems are year 2000 compliant. We maintain our
presence in the general services market which is showing signs of benefiting
from requirements for the new millennium.
Our main aim remains to achieve sustainable organic growth. The strength of the
company's Balance Sheet is demonstrated by cash of 12.lp per share and net
assets of 21.9p per share. In proposing the final dividend your Board is
conscious of the need to conserve funds for future investment in and development
of the business. It is considered that this approach will maximise share value
for the benefit of all shareholders. If the growth rates we are experiencing
continue our property requirements will be subject to a detailed review in the
near future.
In conclusion I must pay tribute to our staff, who by their efforts have enabled
the result for the current year to be achieved.
Terry Bourne
Chairman
7 July 1997
Further enquiries:
Terry Bourne Chairman 0171-294-4888
Total Systems plc
TOTAL SYSTEMS plc
Final Results Announcement (Unaudited)
Year Ended Year Ended
31/3/97 31/3/96
# #
TURNOVER 3,279,609 2,892,802
========= =========
OPERATING PROFIT 345,219 163,236
Interest receivable and similar income 67,326 59,093
---------- ---------
PROFIT ON ORDINARY ACTIVITIES
BEFORE TAXATION 412,545 222,329
TAX ON PROFIT ON ORDINARY
ACTIVITIES 133,248 60,954
---------- ---------
PROFIT ON ORDINARY ACTIVITIES
AFTER TAXATION FOR THE
FINANCIAL YEAR 279,297 161,375
DIVIDENDS 126,788 100,953
---------- ---------
RETAINED PROFIT FOR THE
FINANCIAL YEAR 152,509 60,422
========== =========
EARNINGS 279,297 161,375
========== =========
Earnings per share 2.76p 1.60p
Dividend per share 1.25p 1.00p
Notes:
1. The Group's turnover is derived from the writing and supply of computer
software and supply of related hardware services in the United Kingdom and
the E.U.
2. It is intended to post the Annual Statement and Report to shareholders and
others on 12 July 1997. Copies are otherwise available from the Registered
Office of the Group at 394 City Road, London ECIV 2QA.
3. The final dividend will be paid on 17 September 1997 to shareholders who are
on the Register on 18 July 1997 (the record date).
4. The calculation of earnings per share is based on profit after taxation of
#279,297 (1996:#161,375) and a weighted average of 10,127,090 shares (1996:
10,078,741) in issue during the period.
5. All activities derive from continuing operations.
END
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