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July 9, 1987

BIS GROUP, NOW OWNED BY NYNEX CORP, GOES OUT IN A BLAZE OF PROFITS

By CBR Staff Writer

BIS Group Ltd has reported a 55% rise in pre-tax profits for the year to February, its final 12 months as an independent company. At the end of the fiscal year, the 1,500-staff computer and marketing consultancy sold out to baby Bell, Nynex Corp after rejecting the idea of a London stock market listing. Its new owner must be delighted by that decison after pre-tax profits at UKP6.5m on turnover up 33% to UKP62.7m. According to BIS chairman Brian Allison, the growth in 1986-87 – the most exiting and successful year in our 23 years history – was due to very good operational progress in all the group’s businesses. And, the company is likely to grow even faster this year as Nynex helps it into the US market. Already, arrangements have been made to push BIS’ IBM System/38 packages – Midas, Fundmaster and Ipse – in the US, and BIS’ marketing information services are next in line for a similar thrust. Despite the successes, BIS has conducted a review of its activities and decided that 33-strong JBA Hospitality Systems Ltd, which it acquired last December when it purchased JBA International – no relation to JBA UK (CI No 716) – no longer has a role to play within the group. BIS has accepted an undisclosed offer from Hotel Information Systems Inc for all except the Singapore and Hong Kong, and Australian operations which are being bought out by the existing management.

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