Investors lead firm from loss

Space and defence software company SciSys, the previously loss-making arm of parent company CodaSciSys, has reported pre-taxprofits of GBP1.8million.

The division, which is based in Brislington and Chippenham,reported a marked improvement from losses of GBP400,000 in 2003following renewed investment from the military and in commercialsatellites.

But the division's strong performance was not replicated acrossthe group as a whole, which reported a fall in turnover fromGBP68million in 2003 to GBP67.8milliion in 2004.

Group profits also remained the same at GBP3.9million after itswallowed up an GBP870million goodwill charge.

The payment relates to its …