Total Systems Plc is out of the red with its best half year since 1992, as purchasing decisions appear to be speeding up. The London-based software supplier has bemoaned in the past the attitude of companies in the insurance sector and others, saying that its products came up against a lot of resistance (CI No 2,698). It claims packages such as its Ultima and Optima insurance software reduce the number of staff required dramatically, and that this made companies wary of rocking the boat. Chairman Terry Bourne says that the lack of investment by these companies over the past five years has led to fierce competition. This in turn is resulting in faster decision making regarding investment in new systems. With pressure on companies to improve service levels and at the same time cut costs, Total Systems offer to cut staffing requirements is suddenly proving attractive, it says. Bourne also believes Total will be well placed to provide systems to companies looking to update existing systems with those written in modern programming languages. The company has cash balances in excess of 1m pounds, and says its net assets continue to grow. Believing its financial position to be strong, it will pay an interim dividend of 0.5p.
