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Lynx Group Plc, the Oxford, UK-based computer services and systems company, is expanding into Europe and expects to continue its rapid growth even if there is an economic downturn. Lynx reported full year net profits up 32% at 9m pounds on revenues up 50% to 180.9m pounds. The group, which has 1,800 employees provides software to the financial, commercial, automotive and communications industries and services. Software contributed 60.9m pounds in revenues up 60%, and operating profits of 8.1m pounds, up 45%. Lynx is planning acquisitions overseas, but expansion is only undertaken as a result of relations with existing clients, which explains its moves into Spain, Italy and Ireland, said a spokesperson. He said that key for Lynx is its financial systems division, which has seen its 4 Series products for fund management taken by CSFB and Matheson, and trust markets. This has resulted in Lynx opening an US office to cater for the Caribbean off-shore havens. The commercial division resells SAP and Tetra ERP syst ems to SMEs and has a fixed price and nine month installation period and is being sold to US divisions of its UK clients. Lynx is planning to develop its own software to be distributed by a third party in the US, although to date the UK provides 93% of its revenues. Computer services, which currently employs 760, comprises reseller, corporate and training divisions and saw revenues of 124.6m pounds, up 46%, and operating profits of 7.2m pounds, up 35%. Much of the services work is developed through its product sales and it provides consultancy, maintenance and network management as well as training work. This includes its acquisitions of Globelle and Clifton Reed in the last year. Lynx is listed on the London Stock Exchange and is currently trading at 182.5 pence, down 1%.
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Publication:Computergram International
Geographic Code:4EUUK
Date:Nov 13, 1998

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