18 Jan 2018 07:01
18 January 2018
EMIS Group plc
("EMIS Group" or "the Group")
Trading update
Notice of final results
EMIS Group plc (AIM: EMIS.L), the UK leader in connected healthcare software and services, today announces a trading update for the year ended 31 December 2017.
Overview
Trading for the year has been in line with the Board's expectations (excluding the impact of the service level reporting issues separately announced this morning). Full year revenue was slightly ahead of the comparative period as the Group continued to benefit from growing recurring revenue, strong market shares and good momentum in its order books and pipelines. The previously announced internal reorganisation programme has been completed, focusing on improving day to day operational management.
Divisional review
In Primary, Community & Acute Care, the Group's leading primary care market share has been maintained. In Northern Ireland, implementation of EMIS Web for primary care is progressing well, with approximately half of the estate now live. In Scotland the process for the procurement of EMIS Web is continuing and the Group expects an update shortly regarding progress in the Welsh re-procurement. Community market share grew with further contract wins in the period. Acute care delivered growth in the second half but the hospital market overall remained subdued.
As well as maintaining a leading market share in Community Pharmacy, the roll out of ProScript Connect, the Group's next generation pharmacy dispensary management product, has continued, driving a strong performance.
Specialist & Care delivered revenue growth and a return to profit in the second half of the year as the turnaround plan continues to be executed.
In Patient, the websites and mobile applications for both Patient.info and Patient Access have been refreshed as part of the plan to deliver an evolving online digital platform.
Financial position
The Group has a strong balance sheet with net cash of £14.0m as at 31 December 2017 (31 December 2016: net debt of £0.4m).
The Group will provide an update on current trading at the time of its full year results along with an update on the issues announced separately this morning relating to EMIS Web and the future impact on the Group.
Notice of final results
The Group intends to announce its results for the year ended 31 December 2017 on 14 March 2018.
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 8788
Reg Hoare/Giles Robinson/Charlie Barker
emis@mhpc.com
Notes to Editors
EMIS Group is the UK leader in connected healthcare software and services. Its solutions are widely used across every major UK healthcare setting from primary, community & acute care, to high street pharmacies and specialist care services. EMIS Group helps healthcare professionals in over 10,000 organisations share vital information, facilitating better, more efficient healthcare and supporting longer and healthier lives.
EMIS Group serves the following healthcare markets under the EMIS Health brand:
• Primary, Community & Acute Care, as the UK leader in clinical management systems for healthcare providers and commissioners. EMIS Health products, including the flagship EMIS Web, hold over 40 million patient records and are used by more than 100,000 professionals in nearly 6,000 healthcare organisations.
• Community Pharmacy, with the UK's single most used integrated community pharmacy and retail system.
• Specialist Care, as England's leading provider of diabetic eye screening software and other ophthalmology-related solutions.
These markets are also supported by other EMIS Group businesses:
• under the Patient brand, the UK's leading independent provider of patient-centric medical and well-being information and related transactional services.
• under the Egton brand, providing specialist ICT infrastructure, hardware and engineering services, and non-clinical software into health and social care.
• under the EMIS Care brand, providing healthcare screening programmes such as diabetic eye screening.
LEI: 213800K474ZZK76NX913