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November 2, 1999

Heyde Reports Pre-Tax Up 213% Through September

By CBR Staff Writer

German systems integrator and software developer Heyde AG has reported a pre-tax profit for the first nine months of this year up 213% at DM13.83m ($7.4m) on revenue that rose 99.6% at DM103m ($55.3m). As a result, the company expects to fulfil its forecasts for the year of a pre-tax figure of DM23.5m ($12.6m) on revenue of DM142m ($76.2m). For next year Heyde, whose principle customer base is in banking and insurance, predicts further significant growth in revenue to DM240m ($128.8m). The company, which is listed on the Neuer Markt in Frankfurt, also said it expects to remain on the acquisition trail next year. It has already bought several companies in 1999 and reckons it will be able to announce at least one more before the end of the year.

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