A switch in IT spending to Y2K issues continues to dog results of Total Systems Plc, the London, UK-based software house that specializes in the insurance and pension funds markets. In the six months to September 30, the company made a net loss of 175,429 pounds ($284,194), down from a profit of 262,296 pounds ($424, 919) on revenue down 33.6% at 1.1m pounds ($1.7m).
Chairman and chief executive Terry Bourne said that interest in its products has continued at an exceptionally high level and it is now beginning to see these prospects placing orders. Current indications are that order intake will increase rapidly in year 2000, he said.
