Open GI reports slight profit increase
Open International, the holding company for Open GI, the Countrywide network, and London market technology provider, Mi Limited, has announced further growth in revenues and profits for the year ended 31 May 2007.
During its first year trading as Open International following the management buyout from Misys in March 2006, the company reported revenues of £35 million, up 5% up on last year’s figures, and an operating profit of £18.6 million - an increase of 6%.
Open International chief executive, Phillip Bell, attributed the results to a record number of new contracts, increasing product uptake across Open GI’s customer base, particularly in the area of e-commerce, and growth in EDI business.
He said:
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