The London-based customised software and consultancy group, Total Systems Plc, has made a splendid recovery to UKP102,768 pre-tax profit from last year’s loss of UKP6,722. Turnover for the year to March 31 has increased by 15% to UKP2.04m, and earnings per share are 0.74 pence, an improvement on last year’s loss of 0.08 pence. The company says that the results vindicate its policies of diversifying into general systems software and local government contracts, although this time last year local government was acknowledged to be a more difficult market than anticipated. Details are sketchy, but Total Systems says that there is considerable interest in the group’s expertise, even if that interest has still to be converted into solid orders. Cautious as ever, the company will not be paying a dividend for the year, saying that it is important to husband cash resources in view of current trading conditions. In biblical mood, chairman Terry Bourne looks forward to the day when the shareholders will be rewarded for their patience.
