(Alliance News) - Emis Group PLC on Thursday said it expects full-year revenue and adjusted operating profit to be slightly ahead of expectations and ended the year with a "strong" balance sheet.
The Leeds, England healthcare software and services firm said revenue and adjusted operating profit for 2021 are expected to be "slightly" above the top end of market consensus.
Analysts are expecting Emis to report revenue of GBP164.8 million and adjusted pretax profit of GBP41.1 million for 2021, according to company-compiled consensus. This is expected to rise to GBP172.6 million and GBP44.3 million in 2022.
In the Emis Health division, revenue reflected a "more normalised" trading period compared to 2020, Emis said, with a higher proportion of non-hardware revenue than in the comparative year.
In the Emis Enterprise business, however, the company continues to record double-digit growth in the areas of patient-facing services, analytics and pharmacy.
The firm's net cash as at December 31 was GBP64.0 million, up 21% from GBP53.0 million the year before.
It also secured a replacement revolving credit facility of up to GBP60.0 million with Barclays PLC and NatWest Group PLC for an initial three year period.
Separately, the healthcare software and services provider also completed the acquisition of Edenbridge Healthcare Ltd.
Emis paid GBP4.0 million in cash for the Durkar, England-based business intelligence company.
A further cash consideration of GBP6.0 million will be payable upon the completion of certain performance targets.
Emis expects Edenbridge Healthcare to expand its capabilities in the growing analytics markets, by providing insight to support GP practice access, efficiency, transformation and workforce planning.
"I am delighted to confirm another year of positive progress at the top end of our expectations," Chief Executive Andy Thorburn said.
"Our business continues to build good momentum for the future, with our technology investment programme, bolt-on acquisitions such as that announced today, and continued high-quality customer-focused execution from our team."
Shares in Emis Group were up 5.4% at 1,332.00 pence each on Thursday morning in London.
By Abby Amoakuh; abbyamoakuh@alliancenews.com
Copyright 2022 Alliance News Limited. All Rights Reserved.
Barclays (BARC)
Natwest (NWG)
