Sema Group Plc announced good results for the six months to June 30. At least, they were good if you don’t take into account the UKP15.4m net profit that it made at least partly from the sale of Sofres SA in fiscal 1992. This half, Sema turned in net profits of UKP9.6m. If you exclude the Sofres sale, then the profit weighs against a loss last time of UKP576,000, but if you include the sale, then net profit is down 52.6%. Earnings per share, when taking into account the capital gains, have fallen 53% to 10.46p. Whichever way that you look at it, turnover is up 19.2% to UKP232.9m, and the interim dividend has risen by 9.1% to 1.2p. It should also be noted that the services company gained UKP4.6m on the disposal of investments this interim, which has been included in all figures. Sema has maintained its presence in the systems integration business area, which is the largest segment of its business at 76%. Meanhile its product business has fallen to 8.5% from 10% of turnover this interim, facilities management taking the slack to weigh in at 15.5%. The main reason for the fall in product sales is that most of the products are based in Germany, which has seen a reduction in turnover in actual terms as recession there deepens. Spain and Benelux have suffered the same fate – when casting aside exchage rate advantages, the latter two companies have shrunk in turnover by 6.4% and 9% respectively. Cash increased by 223.6% to UKP17.8m for the company, which has stated aims of introducing its Sema Banking System outside France, (which it says will help it to increase its business within the financial market), and to increase its co-operation with France Telecom, with which Sema has a joint venture facilities management firm in the UK. At the simultaneous Paris announcement by the Anglo-French company, chief executive Pierre Bonelli said the company is eyeing acquisitions in Sweden and South Africa. We’re looking at certain markets, including Scandinavia and South Africa, he said, but declined to name the target companies.
