(Alliance News) - Emis Group PLC on Thursday reported a lower profit as cost increases outpaced revenue growth, as it awaits its takeover by Optum UK.
The healthcare software and services provider said pretax profit in the six months to June 30 fell to GBP13.2 million from GBP15.4 million a year prior. Revenue climbed to GBP88.8 million from GBP87.3 million.
Staff costs however increased to GBP39.7 million from GBP37.1 million, while other operating expenses were at GBP23.1 million, 16% higher than GBP19.9 million the year prior.
Looking ahead, Emis aims to deliver further revenue growth and said it is well placed for growth "with a technology strategy that is in alignment with NHS policy".
Emis expects its takeover by Optum UK, a subsidiary of UnitedHealth Group Inc, to become effective in the final quarter of 2023 or the first quarter of 2024.
"We expect to be able to provide a further update on our Acquisition once the [UK] Competition & Markets Authority has issued its final report," Chief Executive Andy Thorburn said. The CMA is set to release its final report on October 5. The competition watchdog had provisionally cleared the takeover last month.
The company declared an interim dividend of 21.3 pence per share, 21% higher than 17.6p a year prior.
Emis shares were flat at 1,918.00 pence on Thursday afternoon in London.
By Tom Budszus, Alliance News reporter
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