Formula Systems software revenue rose 13.5% in the second quarter

Formula Systems software revenue rose 13.5% in the second quarter of the year.
Formula, which controls Matrix, Magic and Sapiens companies, trades on Nasdaq and Tel Aviv stock exchanges worth NIS 3 billion.
The shareholder's net profit was $ 9 million, up 18.4% year-over-year. Net earnings per share stood at 59 cents, up from 52 cents per share in the second quarter of 2018.
 The company also reported that it would distribute a 52-cent dividend per share, totaling $ 8 million (about NIS 28.3 million), to be paid in cash on September 25 this year.
Formula holds 48.88% of Matrix's share capital, 48.05% of Sapiens's share capital, 45.16% of Magic's shareholding, full ownership (100%) of Multiplier, half (50%) of TSG IT, And 90.09% of the stock of Insync Staffing Solutions.
Total cash, cash equivalents, deposits and marketable securities investments in the Group's consolidated balance sheet at the end of the quarter totaled $ 389.9 million. And the Group's total equity was $ 867.9 million (representing 43.9% of the total consolidated balance sheet).