Systems Union touts reverse profits warning

Systems Union Group, the UK supplier of mid-range accountancy software systems, is doing better than analyst forecasts.

In a trading statement issued today, the owner of the SunSystems and Pegasus brands, said half-year profits before EBITDA will be "well in excess of £1 million". It has also banked a £1.5m profit from the sale of surplus property and its cash position at 30 June 2001 is up £4m to £14m.

The group says that SunSystems has "turned the corner and is achieving excellent results". And Pegasus Software, its more downmarket operation, is "trading profitably with some 500 orders received for Opera II." ®