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EMIS' first-half revenues grow as it maintains NHS market share

By Iain Gilbert

Date: Tuesday 16 Jul 2019

EMIS' first-half revenues grow as it maintains NHS market share

(Sharecast News) - Healthcare software and systems company EMIS traded in line with expectations in the six months ended 30 June, with revenues expanding year-on-year.
In EMIS' health unit, the group's leading NHS market share was maintained, while the GP IT Futures English GP Framework renewal process moved into a formal procurement phase, with successful bidders expected to be announced in September 2019.

Meanwhile, the enterprise division continued to make "good" progress, securing a number of commercial licence deals for both continuing and legacy products.

EMIS, which intends to post its fully audited results for the half on 30 August, also said it was continuing to invest in the development of its EMIS-X product while reducing headcount in certain other parts of the business, as well as undertaking further productivity and process improvements.

Net cash at 30 June 2019 was £26.7m, up from £15.6m at the end of December 2018, while seasonal first-half working capital inflow and proceeds from EMIS' disposal of its specialist and care business were partly offset by the purchase of £3.6m of shares by its employee benefit trust.

Chief executive Andy Thoburn said: "We are focussed on the execution of our strategic plan to provide increased revenue growth and improved margins, towards 30%, in the medium term.

"We continue to invest in our clinical, product management and global software development teams while, in parallel, streamlining our support and back office operations through the deployment of new systems and processes."

At 0930 BST, EMIS shares were down 1.32% at 1,194p.

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