18 Jul 2017 07:00
18 July 2017
EMIS Group plc
("EMIS Group" or "the Group")
Restatement of segmental reporting
EMIS Group plc (AIM: EMIS.L), the UK leader in connected healthcare software and services, today announces its restated segmental reporting.
Overview
Since 2013 the Group has presented its results split into three segments: Primary & Community Care; Community Pharmacy; and Secondary & Specialist Care. As previously announced, the Primary & Community Care and Secondary (Acute) Care businesses are now under common leadership, and Patient has been established as a separate entity. The directors therefore consider the following segmental split to represent better the Group's present structure, activities and the markets being served:
• Primary, Community & Acute Care
• Community Pharmacy
• Specialist & Care
• Patient
This split reflects how the business is managed and reported internally. Tables setting out the previous and new segmental reporting for the 2016 comparative periods are provided below. With the exception of the previous segmental numbers for the year ended 31 December 2016, which have been extracted from the audited 2016 Annual Report and Accounts, the numbers are unaudited.
Segmental reporting for half year
| Previous segmental | New segmental | |||||||
| Six months ended | Six months ended | |||||||
| 30 June 2016 | 30 June 2016 | |||||||
| Primary & Community Care | Community Pharmacy | Secondary & Specialist Care | Total | Primary, Community & Acute Care | Community Pharmacy | Specialist & Care | Patient | Total |
| £'000 | £'000 | £'000 | £'000 | £'000 | £'000 | £'000 | £'000 | £'000 |
Revenue | 48,983 | 10,348 | 19,339 | 78,670 | 60,256 | 10,348 | 7,046 | 1,020 | 78,670 |
Segmental operating profit as reported internally | 14,745 | 2,214 | 1,469 | 18,428 | 15,298 | 2,214 | 369 | 547 | 18,428 |
Development costs capitalised | 1,052 | 895 | 935 | 2,882 | 1,987 | 895 | - | - | 2,882 |
Amortisation of development costs | (2,315) | - | (646) | (2,961) | (2,961) | - | - | - | (2,961) |
Amortisation of acquired intangible assets | (527) | (288) | (2,505) | (3,320) | (2,702) | (288) | (330) | - | (3,320) |
Cost reduction programme | (412) | (107) | (1,633) | (2,152) | (1,894) | (107) | (151) | - | (2,152) |
Segmental operating profit/(loss) | 12,543 | 2,714 | (2,380) | 12,877 | 9,728 | 2,714 | (112) | 547 | 12,877 |
Group operating expenses |
|
|
| (736) |
|
|
|
| (736) |
Operating profit |
|
|
| 12,141 |
|
|
|
| 12,141 |
Net finance costs |
|
|
| (231) |
|
|
|
| (231) |
Share of result of joint venture |
|
|
| 271 |
|
|
|
| 271 |
Profit before taxation |
|
|
| 12,181 |
|
|
|
| 12,181 |
Segmental reporting for full year
| Previous segmental | New segmental | |||||||
| Year ended | Year ended | |||||||
| 31 December 2016 | 31 December 2016 | |||||||
| Primary & Community Care | Community Pharmacy | Secondary & Specialist Care | Total | Primary, Community & Acute Care | Community Pharmacy | Specialist & Care | Patient | Total |
| £'000 | £'000 | £'000 | £'000 | £'000 | £'000 | £'000 | £'000 | £'000 |
Revenue | 99,615 | 21,425 | 37,672 | 158,712 | 120,565 | 21,425 | 14,163 | 2,559 | 158,712 |
Segmental operating profit as reported internally | 32,202 | 4,876 | 3,292 | 40,370 | 33,792 | 4,876 | 213 | 1,489 | 40,370 |
Development costs capitalised | 1,882 | 1,927 | 1,875 | 5,684 | 3,757 | 1,927 | - | - | 5,684 |
Amortisation of development costs | (4,497) | - | (1,516) | (6,013) | (6,013) | - | - | - | (6,013) |
Amortisation of acquired intangible assets | (1,054) | (576) | (5,009) | (6,639) | (5,405) | (576) | (658) | - | (6,639) |
Cost reduction programme | (1,162) | (140) | (2,328) | (3,630) | (2,707) | (140) | (783) | - | (3,630) |
Impairment of goodwill | - | - | (4,616) | (4,616) | - | - | (4,616) | - | (4,616) |
Segmental operating profit/(loss) | 27,371 | 6,087 | (8,302) | 25,156 | 23,424 | 6,087 | (5,844) | 1,489 | 25,156 |
Group operating expenses |
|
|
| (1,617) |
|
|
|
| (1,617) |
Operating profit |
|
|
| 23,539 |
|
|
|
| 23,539 |
Net finance costs |
|
|
| (237) |
|
|
|
| (237) |
Share of result of joint venture |
|
|
| 499 |
|
|
|
| 499 |
Gain on sale of associate |
|
|
| 1,532 |
|
|
|
| 1,532 |
Profit before taxation |
|
|
| 25,333 |
|
|
|
| 25,333 |
For further information, contact:
EMIS Group plc Tel: 0113 380 3000
Andy Thorburn, CEO
Peter Southby, CFO
www.emisgroupplc.com
Numis Securities Limited (Nominated Adviser & Broker) Tel: 020 7260 1000
Oliver Hardy/Simon Willis/James Black
MHP Communications Tel: 020 3128 8540
Reg Hoare/Giles Robinson/Charlie Barker