SSY.L Regulatory News (SSY)

22 Jan 2007 07:02

SciSys PLC22 January 2007 22 JANUARY 2007 SCISYS PLC (SSY: AIM) Pre-close trading update SciSys Plc ("SciSys" or "the Company"), which supplies bespoke software systemsand solutions to the space and defence industries, as well as to a range ofpublic sector bodies, is today providing a trading update for the year ending 31December 2006 prior to entering its closed period. SciSys has continued to trade well during the period, and now has a strong orderbook across all sectors, substantially ahead of the equivalent period last year. Towards the end of 2006, SciSys experienced delays on one of the largeprogrammes that it is currently working on, resulting in revenue slippage into2007. The management team is satisfied, though, that the delays to this largeprogramme have been limited. As a result, sales and earnings for the year ended31 December 2006 are expected to be slightly below current market expectations. The outlook for SciSys remains very positive and the Company continues to enjoythe benefits of a successful business development programme undertaken during2006, which will contribute to further growth in sales and profits this comingyear. Cash generation remains good and the Company retains a strong balancesheet. It is also likely that the demerger of CODA will enable SciSys to benefitfrom a lower rate of taxation, with a positive effect on earnings per share. Business has been won from a number of new clients, including the CountrysideCouncil for Wales, the Highways Agency, Ofsted, Hampshire County Council, AvantiCommunications, and the Cabinet Office. In addition, substantial new businesshas been secured from existing customers including the European Space Agency,the Environment Agency, Westinghouse, Thales and Thames Water. SciSys has also recently been selected to work alongside QinetiQ on a three-yearVehicle Technology Integration Demonstrator programme, to investigate andimplement a layered protection approach to survivability for armoured vehiclesto reduce their vulnerability to attack. SciSys' expertise in the use ofNetwork Enabled Capability to collate, share, and utilise data, will play a keypart in this prestigious project. In January 2007, the management team was strengthened by the appointment ofChris Cheetham as Finance Director. Prior to joining SciSys, Chris was FinanceDirector at Civica Public Protection, formerly Flare Software Systems. SciSys will report preliminary results for the year ended 31 December 2006 on 27March 2007. Enquiries: SciSys Plc Mark Hampson, CEO T: +44 (0)1249 466 466 Pelham Public Relations Archie Berens T: +44 (0)20 7743 6679 E : archie.berens@pelhampr.com Alex Walters T : +44 (0) 20 3170 7435 E: alex.walters@pelhampr.com About SciSys plc SciSys is a leading developer of Information and Communications Technologyservices, e-Business and advanced technology solutions. The Company operates ina broad spectrum of market sectors including space, utilities, defence,government, communication, business services and transport. Within thesemarkets, SciSys has been involved in significant developments in keytechnologies that have changed the way people do their jobs. SciSys clients arepredominantly blue chip and public sector organizations. Customers include theEnvironment Agency, Thames Water, Astrium, the European Space Agency and theMetropolitan Police. The company has UK offices in Chippenham, Bristol andReading and a European office in Darmstadt, Germany This information is provided by RNS The company news service from the London Stock Exchange