Total Systems PLC - Interim Results
December 08 1997 - 3:00AM
UK Regulatory
RNS No 3482U
TOTAL SYSTEMS
5th December 1997
CHARIMAN'S STATEMENT
Our aim of achieving sustainable organic growth is now beginning to bear fruit.
Half year turnover has increased by 36.5% resulting in a profit before tax of
#476,206, up 156.6%. The financial stability of the Company is demonstrated by
cash of 14.85p per share and net assets of 24.15p per share. With our continued
improvement in performance an interim dividend of 0.65p is proposed. This
represents an increase of 30%.
The trend of higher volume and prospects continues. A rolling recruitment
programme is in place in order to meet the increasing demand for our products
and services. Additional space requirements resulting from this campaign has
led to a review of future property needs, and we are actively seeking larger
office premises in London from which we can run an increasingly efficient
centralised operation.
Strong growth for our Ultima insurance system continues with ongoing and planned
further development of this package assuring its position as a "leading edge"
solution. Development of the Optima investment management package continues and
its prospects are bright.
The commitment and dedication of our staff can not be overstated. It is they
who have enabled this excellent half year result to be achieved. The existing
profit share option schemes, which aligns their interests with those of our
shareholders, will ensure that they receive forward commensurate with their
efforts.
Terry Bourne
Chairman
e-mail: info@totalsystems.co.uk.
http://www.users.dircon.co.uk/ tsplc/
Statement of Unaudited Results
Half year Half year
to 30/09/97 to 30/09/96
# #
TURNOVER 2,017,128 1,477,822
=========== ===========
OPERATING PROFIT 429,468 153,101
Interest Receivable 46,738 32,486
----------- -----------
PROFIT ON ORDINARY
ACTIVITIES BEFORE TAXATION 476,206 185,587
TAXATION (149,957) (51,297)
----------- -----------
PROFIT ON ORDINARY
ACTIVITIES AFTER TAXATION
ATTRIBUTABLE TO SHAREHOLDERS 326,249 134,290
INTERIM ORDINARY DIVIDEND (67,194) (50,715)
----------- -----------
RETAINED PROFIT
FOR THE PERIOD 259,055 83,575
=========== ===========
Earnings per share 3.193p 1.329p
Dividend per share 0.65p 0.50p
Notes:
1. The Group's turnover is derived from the writing and supply of computer
software and supply of third party software with related hardware in the
United Kingdom. All activities derive from continuing operations.
2. The financial information contained in this interim statement does not
constitute statutory accounts as defined in Section 240 of the Companies Act
1985.
3. It is intended to send this Statement and Report to shareholders on 16
December 1997. Copies are otherwise available from the Registered Office
of the Group at 392/4 City Road, London EC1V 2QA.
4. The dividend will be paid to shareholders on 27 February 1998 who are on the
Register on 19 December 1997 (the record date).
5. The calculation of earnings per share is based on profit after taxation of
#326,249 (1996: #134,290) and a weighted average of 10,218,810 shares (1996:
10,108,325) in issue during the period.
6. Cash balances at 30 September 1997 #1,534,907 (1996: #1,100,329).
7. Net Current Assets at 30 September 1997 #1,627,201 (1996: #1,293,718).
END
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