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Technology / AI and automation

MDIS CUTS LOSSES AND PREDICTS GROWTH

MDIS Group Plc – formerly McDonnell Information Systems – the troubled systems integrators, has cut losses by almost a half in the six months to June 30 while revenue has risen by 6.25% to 54.4m pounds. Pre-tax losses are down from 9.2m pounds to 3.9m pounds – though shareholders had been warned to expect up to 4.5m pounds. The group had been badly hit by loss-making contracts entered into in 1995 and the shares were suspended earlier this year while it raised 24.3m pounds by a new offer of shares. Directors say businesses are positioned for future development and growth and the improving trend can be maintained.

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CBR Staff Writer

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