Microgen: Trading Update shows progress

Microgen’s pre-close update for Calendar 2016 reported on “excellent progress” in the second half of the year. The Aptitude Software business enjoyed a rapid increase in new contract signings in the second half, bringing the year’s total to 10, and adding 40% to the on-going recurring revenue base. Microgen’s other division, Financial Systems, could also celebrate some positive trends, with the successful integration of May’s acquisition of Infoscreen and the continued growth of the company’s business in the Trust and Fund Administration (T&FA) market. T&FA business now accounts for over half of the revenues in the Financial Systems Division. Net cash has risen strongly to £13.6m, from £5.4m last year.

The brief Trading Update points out the real progress made in executing the business strategy that was outlined in a detailed briefing when TechMarketView met the Microgen management in May. It also sets the business up for a further period of strong performance in 2017.

We recently had the opportunity to talk with Microgen’s CFO about the company’s operations and outlook. As a result, subscribers to TechMarketView can learn more about this interesting company in our more detailed UKHotViewsExtra comment.

Posted by Peter Roe at '10:08' - Tagged: partnerships   software   financialservices   legacy