Misys Commits to Significant Debt Reduction at the Half Year as Banking Unit's Performance Stalls

Jan 14, 2010, 02:40 ET from Misys plc

LONDON, January 14 /PRNewswire-FirstCall/ -- The software and services company reported a strong performance in its healthcare division, a turn around in its Treasury and Capital Markets business but tough trading at its Banking unit.

CEO, Mike Lawrie, is confident of a turnaround at Banking in the second-half. In an interview with on-line financial broadcaster Cantos he said, "in our banking business, although we have not seen the improvement in the numbers as we reported today, we are seeing encouraging signs around the pipeline."

He also pointed out the companies disciplined approach to financial management will allow Misys to continue to invest in the business while paying down a significant portion of its debt.

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SOURCE Misys plc