Software company Misys has reported a rise in revenue and orders in the third quarter ended 28 February.

Revenue in the period increased seven per cent to £85 million, while order intake rose 34 per cent to £49 million. The group said that revenue and orders increased across all of its segments.

During the period the group sold its remaining 6.5 million shares in Allscripts for £85 million. Misys also returned £670 million to shareholders using proceeds from the disposal of Allscripts.

At the end of the third quarter Misys had net cash of £21 million.

Mike Lawrie, Chief Executive if Misys, said, "We have seen good momentum in the third quarter, with order intake growth of 34% and revenue growth of 7%. Our new solutions continued to accelerate, contributing 59% of ILF orders in the third quarter, compared with 33% in last year's third quarter.

"I am encouraged by the progress we are making towards leadership in our markets. Treasury & Capital Markets continued to win new customers, with 8 new names in the period and 18 in the year to date. In Banking, we added 6 BankFusion customers in the period and have signed 19 in the year to date.

"Completion of our Sophisacquisition represents a great step forward in our capital markets strategy, creating the leader in this marketplace. Integration between Misys and Sophis is on track, with back-office functions consolidated and sales collaboration already taking place.

"We are on track to achieve our medium-term targets for the Group, including Sophis, that we last communicated in January 2011.'