Microgen to beat expectations in first half

7th Jul 2011 13:35

Shares in Microgen rose by 7% on Thursday after the software provider said that its first half performance is anticipated to be ahead of its expectations.The group - which operates through two divisions, Microgen Aptitude Solutions and Financial Systems - said its expects earnings for the full year ended 31 December 2011 to be ahead of current market estimates.Microgen Aptitude Solutions has seen continued growth in the six months ended 30 June, "benefitting from both contracts with new clients and extending the use of Microgen's software within the existing customer base," the statement said.Meanwhile, Financial Systems has performed well in a flat market, the group said, with high levels of recurring revenue and strong margins.Shares were trading 6.8% higher at 180p as of 13:30 in the afternoon.BC