Trading Update and Notice of Half Year Results
Source: RNS
13 July 2021
EMIS Group plc
("EMIS Group" or "the Group")
Trading update
Notice of half year results
EMIS Group plc (AIM: EMIS.L), the UK leader in connected healthcare software and systems, today announces a trading update for the six months ended 30 June 2021.
Overview
Trading for the half year has been slightly ahead of the Board's expectations, with a return to business as usual despite the continuing challenges of the pandemic. Both revenue and adjusted operating profit are ahead of the comparative period last year and in 2019.
Divisional review
In EMIS Health, the Group is delivering against the requirements of the GP IT Futures contract while continuing to invest in its technology roadmap. The revenue mix in the division reflected a more normalised trading period, with a higher proportion of non-hardware and connectivity tools' revenues than the comparative period last year.
In EMIS Enterprise, the Group continues to execute in the areas of patient-facing services, analytics and pharmacy, most notably supporting the NHS Covid-19 vaccination programme through its Pinnacle software. The division has seen double digit growth in both recurring and non-recurring revenues in the first half.
Financial position
The Group retains a strong balance sheet position with net cash at 30 June 2021 of £48.0m (30 June 2020: £44.1m), with a first half working capital outflow including the settlement of the £7.3m VAT payment deferred a year previously.
Notice of half year results
The Group intends to announce its results for the half year ended 30 June 2021 on Thursday 9 September 2021.
Andy Thorburn, CEO of EMIS Group, said:
"I am pleased that we have performed slightly ahead of expectations in the first half. Healthcare continues to be at the centre of the global agenda and, as the UK recovers from the pandemic, we are well positioned to meet the evolving requirements of the sector, both today and in the future. We remain confident in the outlook."
For further information, contact:
EMIS Group plc Tel: 0330 024 1269
Andy Thorburn, CEO
Peter Southby, CFO
Numis Securities Limited (Nominated Adviser & Broker) Tel: 020 7260 1000
Joshua Hughes/Simon Willis/James Black
MHP Communications Tel: 020 3128 8572
Reg Hoare/Giles Robinson/Florence Mayo emis@mhpc.com
Information for investors, including analyst consensus forecasts, can be found on the Group's website at www.emisgroupplc.com/investors.
Notes to Editors
EMIS Group is the UK leader in connected healthcare software and systems. Its solutions are widely used across every major UK healthcare setting. EMIS Group's aim is to join up healthcare through innovative technology, helping to deliver better health outcomes to the UK population, supporting longer and healthier lives.
EMIS Group has two core business segments: EMIS Health and EMIS Enterprise.
EMIS Health is a supplier of innovative integrated care technology to the NHS, including primary, community, acute and social care.
EMIS Enterprise is focussed on growth in the business-to-business technology sector within the healthcare market, including management of medicines, partner businesses and patient-facing services.
LEI: 213800K474ZZK76NX913
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