British IT giant Misys has seen its share price on the British stock exchange plummet nearly 30% despite posting a very respectable 22% profit increase last year. The fall follows warnings that the company’s sales in the vital banking and securities areas will decrease over the next year. The Misys financial services division, which supplies a global market, has gone against the trend, picking up operating profits of 44% in the past year.

Misys has also taken a loss of about $25 million by closing two specialist consumer-based B2C portals it was developing, and moving two major business portals into the financial services division. Slow consumer uptake of internet-based products is believed to have been the major cause for the portals’ lack of success.