ImageMagick convert no longer works

[Bill Maidment]

After the updates from SL7.6 to SL7.7 I found that the convert function 
in ImageMagick no longer works with the error:

convert: unable to read font `/usr/share/ghostscript/fonts/n019003l.pfb' 
@ error/annotate.c/RenderFreetype/1124.

It seems there is some mismatch between ImageMagick and ghostcript.
Anyone else seen this and/or have a solution? Googling only muddies the 
issue for me.

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Cheers
Bill