Misys sees fall in profits - papers 28th July

According to the paper, the company reported pre-tax profits fell from £61m to £39m, in line with previous guidance, although revenue rose 12% to £953m. Misys said earlier this week it had received multiple offers for all or parts of its business, although the management refused to discuss the bids. It also refused to comment on the outlook for earnings but indicated exchange rates would have a greater than expected adverse effect on future earnings. Finance director Howard Evans said analysts had under-estimated the rising dollar on Misys profits, which are reported in sterling. Chie...