(Alliance News) - EMIS Group PLC on Thursday reported a 36% leap in profit for 2020 after its products were used by the UK National Health Service in the fight against the Covid-19 pandemic.
The Leeds-based company, which makes software used by healthcare providers, said it made GBP36.9 million in pretax profit, up from GBP27.1 million the year before, while revenue was flat compared to 2019 at GBP159.5 million.
It proposed a final dividend of 16 pence, up 2.7% from 15.6p a year before. That brought EMIS's total payout for 2020 to 32.0p, also up 2.7%, from 31.2p in 2019.
Shares were down 0.2% at 1,116.00 pence in London.
EMIS said the National Health Service in England is using its Pinnacle software in the vaccine rollout, while an analytics product launched in October is being used for Covid-19 research.
Current trading is in line with expectations, and the company expects revenue growth to return this year and accelerate from 2022 onwards, thanks to new products.
EMIS also said its flexible business model will enable it to adapt to the UK government's proposed changes to the health system, announced last month.
EMIS Chief Executive Andy Thorburn said: "While Covid-19 presented unprecedented challenges to the sector, it has also been a catalyst for change, leading to a more rapid adoption of digital healthcare that is here to stay.
"We believe that EMIS Group is well positioned to respond to the challenges our customers face, with a combination of our innovative technology, leading market shares and strong recurring revenues that enable us to invest with confidence."
By Ivan Edwards; ivanedwards@alliancenews.com
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