Back to ‘business as usual’ at listed healthcare software company
Healthcare software business EMIS Group says it has achieved a good first half with its revenue and adjusted operating profit ahead of both 2020 H1 and 2019 H1’s results.
Total revenue for the six months ended 30 June 2021 was up 7% at £83.5m (2020 H1 £78.1m). This included recurring revenues of £65.8m, up 4% from H1 2020’s £63.5m.
The Leeds-based business made a pre-tax profit of £16.4m (2020 H1 £17.7m) and adjusted operating profit of £20m (2020 H1 £17.8m).
EMIS reported a good performance from its sales, account management and delivery teams.
And its EMIS Enterprise business segment was boosted by use of the Outcomes4Health solution to support the Covid-19 vaccination roll-out in England.
In its outlook statement, the company adds it is focused on achieving consistent growth in the next stage of the Group’s evolution organically, with strategic partners, as well as through targeted M&A.
Andy Thorburn, chief executive officer, said: “It has been a positive first half with good performance from the business, particularly in the sales, account management and delivery teams in both EMIS Health and EMIS Enterprise.
“It’s pleasing to be slightly ahead of our expectations, which is a nice position to be in.
“We are returning to business as usual following the challenges of the pandemic during 2020 and we have maintained our investment in, and focus on, growth.
“Thankfully we seem to be heading towards a post-Covid world, and our profitability is increasing because we’re being able to get back to offering a more regular mix of products.
“The business has made progress on many fronts and we’ve done a lot of great work behind the scenes with the NHS.
“We believe our connected care strategy positively reflects the needs of the healthcare market as it emerges from Covid-19, with an increased focus on data capabilities.
“We are working closely with our customers at both strategic and local levels to address their priorities.
“We have a clear line of sight to meet Board expectations for the second half of the year and look forward to the future with confidence.”
Thorburn added the business had not been affected by the so-called “Pingdemic” earlier this year, with most of its staff being able to continue working safely and effectively from home.
He said EMIS is not expecting a financial impact from current warnings of another difficult winter ahead for the NHS.
But he said: “From a customer perspective we are seeing a lot of demand for clinical insights into patients who are potentially at risk.
“Also we’re seeing a lot of engagement from clinicians around how they can manage the challenges of waiting lists and those patients who may not have been screened during the pandemic.”