EMIS.L Share News (EMIS)

(Alliance News) - Emis Group PLC on Tuesday said that although revenue for the first of 2020 was marginally behind 2019, its expectations remain unchanged.

The FTSE 250-listed healthcare software company noted that while the Covid-19 crisis had resulted in uncertainty regarding the timing of new sales delivery, it has adapted to the challenges and performed well during the six months to June 30.

In the EMIS Health division, new business sales moved forward although with a different product mix with lower gross margins, however this was mitigated by a reduction in costs. EMIS Enterprise grew its recurring revenues. Emis noted that while opportunities for non-recurring contracts were limited during the lockdown, there have been early signs of recovery in the market.

"We have performed well as a business in adapting to these new challenges and are hopeful that our markets will continue to recover during the second half of the year. The board remains confident in the outlook for the business," said Chief Executive Andy Thorburn.

As at the end of June, Emis had net cash of GBP44 million, no debt, and available banking facilities of up to GBP60 million.

Full unaudited results for the first half will be published on September 9.

The stock was trading 1.1% lower at 1,049.92 pence each on Tuesday morning in London.

By Ife Taiwo; ifetaiwo@alliancenews.com

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