Scisys, the defence, space and media focused SITS provider, has posted an in line update for FY13, following a ‘mixed’ performance in H1 (see here).
The enterprise solutions & defence (ESD) and space divisions are performing well it seems, with both benefiting from an improved order intake in the final quarter. This helped Scisys to a healthy order intake in Q4, and 'an encouraging new business pipeline’ as it enters the FY14 period.
This same level of optimism does not apply to the media & broadcast division however, which continues to suffer ‘deferred procurement activity’ and an ‘adverse impact on the order intake’. Accounting for 25% of revenue, this division saw revenue slump 19% in H113.
Scisys embarked on a restructuring programme in H2 to reduce its cost base accordingly, and it expects the benefits of this to be felt in 2014. Meanwhile, managament are also considering acquisition opportunities where 'strategically appropriate'.