Misys, the banking and healthcare software group, has stuck to its guidance that it will meet its full-year revenue growth targets of 5 to 8 per cent in spite of a first quarter that saw underlying revenues fall 2 per cent.

The group said orders across the group had risen 20 per cent to £109m ($174m) in the three months to August 31 although it indicated that spending by banks on software remained muted.