Sysgroup Regulatory News (SYS)

21 Jun 2006 07:02

System C Healthcare plc21 June 2006 System C Healthcare Plc TRADING UPDATE System C Healthcare plc, a leading independent provider of IT implementationsolutions for the healthcare sector in England, today issues a trading updatefor the year ended 31 May 2006. System C's preliminary results will be announcedon 13 September 2006. System C announces that the PBET (profit before exceptionals and tax) for theyear ended 31st May 2006 is anticipated to be in line with current marketexpectations. The company retains a strong balance sheet and its net cash isanticipated to be in line with expectations of circa £8m. Well publicised delays and uncertainties within the National Programme for IThave clearly impacted the 2005/6 results. Whilst this challenging backgroundpersists, System C is developing its client base both within and outside theProgramme. A recent contract win has expanded our Local Service Provider (LSP) client baseand the company is now providing significant levels of professional services in4 out of 5 clusters. In addition, we continue to develop opportunities for bothproducts and services directly with NHS Trusts and with the private healthcaresector. System C has now worked with over 100 NHS Trusts both directly and inpartnership with other suppliers. The company has also made good progress on the cost reduction exercise outlinedin our interim results and has reduced its cost base by more than £1.5m(annualised). In summary, the management team believes that the company has taken significantsteps to diversify its customer base and reduce its costs, and that thecompany's reputation with customers remains good. Whilst the pace of change andstructure of the National Programme for IT is an ongoing influence on ourresults, we are continuing to adapt to changes in our market place. Enquiries: System C Healthcare plc Jim Horsburgh, Chairman 01622 691616Ian Denley, Chief Executive Maitland Emma Burdett 020 7379 5151Brian Hudspith This information is provided by RNS The company news service from the London Stock Exchange