Microgen exits Billing Services

Business and trading software specialist Microgen said profits in the third quarter were ahead of plan.The company, which also announced it is selling its non-core Billing Services division to Swiss Post for £7.5m (gross), said its Aptitude Solutions division had a good quarter while recurring revenues in the Financial Systems arm are helping the division weather tricky market conditions.The Aptitude Solutions division is now expected to make an operating profit over the full year, which marks a turnaround from the half-year stage when the division had an operating loss of £0.6m; the division made an operating loss of £2.4m in 2008.‘Furthermore, with the currently contracted/scheduled business and the prospect opportunities, the board anticipates a strong performance in 2010, which should materially compensate for the reduction in profit contribution associated with the disposal of BSD [the Billing Services Division],’ the company said.With the money from the BSD disposal strengthening the balance sheet, the board said it will be in position to consider appropriate acquisition opportunities.