Member productivity has increased at Sesame towards the end of the year, however, revenue at Misys' financial services division is still down 16% on last year because of continuing pressures, according to the firm's annual results.
Details of Misys’ annual report 2004 – published yesterday – reveal the financial services division has seen a lot of development over the last 12 months in preparation for the introduction of mortgage and general insurance regulations. That said, the division’s operating results reveal the financial services division generated 16% less business than last year, dropping from £436m last year to £366m in 2004 and return on revenue fell from 8% to 7%. “Revenues at £366m were £70m (16%) below last year due to the continued weakness in Sesame, our IFA network business. As anticipated last ...
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