Scisys sharers rise at it revises full year outlook

Shares in Scisys rose as the supplier of bespoke software systems to the space, defence, government and commercial sectors updated its outlook for the year, following “strong” trading in the second half.

The AIM-listed company now expects adjusted operating profit, before exceptional items and share based payments, and revenues for the year to 31 December to be ahead of current market guidance.

The company had won additional contracts, including from OneWeb, a global satellite communications provider, and has improved efficiency in delivering existing projects.

It has also benefitted from the recent exchange rate fluctuations in sterling against the euro.

The company said that this underpins its confidence that it will achieve its growth objectives.

Shares in Scisys rose 7.16% to 105.02p at 1116 GMT.