‘Turnaround paying off’ at £36m Misys

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Chief executive Mike Lawrie said he was "optimistic" of hitting full-year targets. While Misys supplies more than 1200 banks, Lawrie pointed to his diversified client base and President Obama's plans to invest in healthcare.

"The fact that 55% of our revenues now come from the healthcare market in America is helping to drive growth despite the difficult economic environment," he said. Misys admitted net debt rose to

£200 million, and it has renegotiated some loans following the collapse of Lehman Brothers.

Misys has taken out a $190 million (£133 million) bridging agreement with its largest shareholder, ValueAct Capital Master Fund. Lawrie's turnaround plan began two years ago when key directors were ousted. The firm today named Sir James Crosby, chief executive of HBOS until 2006, as chairman-designate.