Total Systems Plc, London, UK-based turnkey systems and financial services supplier is coming to the Unlisted Securities Market by way of a placing by Birmingham broker Albert E Sharp. The company, established in 1973 is placing 2m – 20% of the issued share capital – shares at 85p each. At the issue price the company is capitalised at UKP8.5m, and is coming to market on a multiple of 15.9 times earnings. For the financial year ended March 1987 Total reported pre-tax profits of UKP498,000 on turnover of UKP2.1m. Profits of UKP825,000 are projected for the current financial year ending next week. Custom software generated UKP1.2m of the revenue and UKP300,000 came from facilities management and consultancy services. Financial services and banking contributed 33% of turnover and embrace property and unit trust investment management systems; insurance generated 30% and trade unions, local govern-ment and commodity traders and the oil industry the rest. The company has a Bristol office – established in 1980 to target companies relocating there – which accounts for 50% of revenue, serving West Country insurance and financial services companies.
