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Press release
Paris, 23 January 2002 |
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Interim consolidated turnover : +20.6% |
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Sys-com, quoted on the Paris Bourse's Second Marché (Bloomberg : SYS, Reuters : SYS.PA, Sicovam : 7519), an IT consultancy and services company serving major corporate accounts in the financial industry, reports 20.6% growth in consolidated turnover in the first half of fiscal 2001/02. |
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In a context of strong slowdown, first-half consolidated turnover rose by 20.6% (+14.5% on a comparable structure basis) to € 17.7m at the end of December 2001, versus € 14.7m in the first half of fiscal 2000/01. |
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In the second quarter of fiscal 2001/02, consolidated turnover came to € 9.1m, up 11.2% compared with the same period of the previous year. |
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SYS-COM's operating profit is ahead of the business plan, while turnover lags slightly.
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Highlights of the first half
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4 Sys-com responded swiftly to the economic slowdown |
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At the end of April 2001 Sys-com began anticipating the slowdown in the market. Immediately the Group took a series of actions, strengthened in September, to enable the company to meet the business plan at the end of December: |
- It focused on the facilities management offering, a material source of savings for clients, and shifted the emphasis on third-party applications maintenance and third-party software testing opportunities,
- It implemented aggressive cost control and headcount stabilisation policies.
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4 Changes in the Group's services offering |
- IT services/development and consulting for IT managers (Omnes): + 15%
- Consulting and assistance to operating managers (Artes): + 17%
- Consulting for corporate managers (Strates); this new business has been integrated since January 2001, and accounted for 5.6% of total first-half turnover.
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We are pleased to note that trading remained firm during this difficult first half, with growth in the Omnes and Artes divisions offsetting the decline in the consulting for corporate managers business. |
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The Consulting business has continued growing and accounted for 47% of first-half turnover. The Internet businesses (Consulting and IT services) generated 9% of turnover, versus 7% a year ago, and our rates remained stable.
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4 Stock market data |
- Sys-Com has been added to the Next Economy index.
- Cancellation of 38,446 treasury shares, pursuant to shareholder approval at the AGM of 20 November 2001 and the COB's clearance notice no. 01-1455.
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Outlook for the second half of the year
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Market conditions will remain challenging in the field of services to the financial industry until the end of the first quarter. |
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At the same time, we should see the number of engineers and consultants, now down slightly, begin climbing back up during the second quarter. |
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Sys-com is preparing to enter this recovery phase in top form and expects to benefit substantially in the second half from its cost savings plan. |
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Contacts |
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Groupe Sys-com
Jean-François GAUTIER
Head of Financial Information |
Tel: (33) 1 53 32 30 00
Fax: (33) 1 56 35 33 95 |
jfgautier@sys-com-group.com |
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CIC Securities
Marie-Jo MAESTRACCI/ Stephanie STAHR |
Tel: (33) 1 45 96 77 01/
77 83
Fax: (33) 1 45 96 77 99 |
maestrmr@sdm.cic.fr |
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MP Conseil
Michelle PILCZER/
Fabienne RODRIGUEZ |
Tel: (33) 1 47 10 94 94
Fax: (33) 1 47 10 94 95 |
mpconseil@mpconseil.com |
