ACT Group Plc is doing well on the international front with exports generating around ?20m, and is in the throes of adding yet another financial software company, Nantwich-based NMW Computers Plc to its blossoming Financial Systems Group. So far, acceptances have been received from 85.8% of NMW share capital and the offer will be closed […]
ACT Group Plc is doing well on the international front with exports generating around ?20m, and is in the throes of adding yet another financial software company, Nantwich-based NMW Computers Plc to its blossoming Financial Systems Group. So far, acceptances have been received from 85.8% of NMW share capital and the offer will be closed in a week pending Office of Fair Trading approval. NMW’s ?4.8m acquisition is of value product-wise and strategically – there are plans to merge ACT Financial’s London-based data centre with NMW’s centre in Nantwich. ACT Financial Systems turned in half year profits of ?4.3m, up from ?2.9m last time. It did well overseas winning contracts from the Czech Kommercni Bank, the Qatar National Bank in the Middle East and Swiss Volks Bank in Germany and has just signed its first Filipino customer.
Its recent acquisition, Irish-based banking and retail software company Kindle, exceeded expectations, producing pre-tax profits of ?6.5m, well above its ?5m target. ACT Kindle, described as having a tremendous future, won 13 new customers in the six months, boosting its worldwide base to 55. It will be launching a Unix version of its Bankmaster software product next week, which is expected to guarantee a healthy turnover for the next five years. ACT Medisys, which has been reorganising following the acquisition of Medical Computer Services this year has won around ?3m of contracts for its new Unix-based laboratory and patient management systems and has also signed a joint marketing agreement with ICL Plc. It made a loss of ?150,000 this time round but has a healthy order book and is likely to return to profit in the next half. The group is forecast to grow significantly over the next two to five years. ACT Computer Support, ACT’s maintenance and support group has been hurt by the recession, turning in ?2.4m profits compared with ?2.6m last time. But the unit, which now generates 80% of its revenues from non-Apricot deals, won BS5750 accreditation this time. Its Network SI systems integration branch won contracts from the Hilton and Rover groups among others. ACT Logsys, which competes for government contracts, turned in losses of ?800,000. The group has been restructured, switching its focus from supplying hardware to providing software and services. It has won several contracts including a joint deal with Siemens AG to provide a system for the UK’s Department of Social Security and is expected to be profitable in the second half. ACT Cablestream has concentrated on the financial and healthcare sectors; the group broke even this time. ACT Group, which sees 15% to 20% organic growth next year, did ?9.5m pre-tax, up 25%, on sales up 37% to ?72.1m. An interim of 1.75p was declared.