SciSys

Technology group SciSys (SSY) has unveiled a trading update in which it reports that results for the six months to June are 'in line with expectations'.

The AIM-quoted company, which operates in sectors ranging from the media to aerospace declared that it had maintained a 'solid order book' over the six month adding that this provides a 'firm foundation' for its full-year results. However despite this it cautioned that it 'remains alert to the broader economic uncertainty. It also confirmed that it had purchased the freehold of a new headquarters in Chippenham, in a purchase worth £5.04m.

Analysts at paid-for-research house Edison are forecasting pre-tax profits of £2.2m (EPS: 6p) on turnover of £44.3m for the year to December 2011. In 2012 it sees profits climbing to £2.8m (EPS:7.5p) on revenue of £45.9m. A dividend of 1.2p and 1.3p a share is pencilled in for 2011 and 2012, respectively.

Last recommended by Growth Company Investor this January at 48p the shares currently trade at 55p. Having shown considerable resilience amidst the waves of public sector cuts that have affected many of its clients, particularly in defence the company holds moderate growth prospects, having grown its footprint in the Middle East this year with contract wins on Oman to add to their existing work with the troubled nation of Egypt. We reiterate our hold rating.