Orders joy aids profit boost at Systems Union

SYSTEMS Union, the business software group chaired by financier Bob Morton, today confirmed its rehabilitation from a disastrous dot com acquisitions foray by predicting a return to profit, writes James Maclean.

The firm, formerly known as freecom.net, said fullyearresults due in March are expected to show operating profits in line with broker forecasts of pounds 3.6 million on sales of pounds 78.2 million in 2001.

That would be a dramatic turnaround after it paid pounds 137 million in shares for internet company oneview.net in March 2000, only to sell them for pounds 1 less than a year later.

Systems Union says it has pounds 13.5 million in the bank and its main Pegasus accountancy software and SunSystems units are in the black after big order wins this year from Viagra drugs group Pfizer and the Seventh Day Adventist Church.

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