Microgen First-Half Profit Gains 20% on Business Software

Microgen Plc (MCGN), a U.K. supplier of business software, said first-half profit rose 20 percent as more banks used its products.

Adjusted operating profit rose to 4.6 million pounds ($7.4 million) from 3.8 million pounds a year earlier. Sales rose 18 percent to 19 million pounds, the Fleet, England-based company said in a Regulatory News Service statement today.

Growth was driven by a strong performance from Microgen’s Aptitude Solutions range of business software, the company said, which accounted for 57 percent of revenue. Sales of the product grew by 38 percent in the period to 10.8 million pounds as banks, insurers, and media organizations purchased software to process data sets too big for competitors to handle.

Earnings per share rose 33 percent to 4 pence, while the interim dividend increased 22 percent to 1.1 pence per share.

To contact the reporter on this story: Ed Ballard in London at eballard2@bloomberg.net

To contact the editor responsible for this story: Colin Keatinge at ckeatinge@bloomberg.net

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