Leeds-based EMIS Group maintains leading position in NHS market
The Leeds-based EMIS Group, which provides connected healthcare software and systems, today revealed that its expectations for its full year results remain unchanged, despite the pandemic.
EMIS Group has announced a trading update for the six months ended 30 June 2020.
In a statement, EMIS said: "Trading for the half year has been in line with the board’s expectations, despite uncertainty due to the COVID-19 crisis, albeit revenue was marginally behind the comparative period last year.
"Although there continues to be some uncertainty regarding the timing of new sales delivery, the board’s expectations for the full year remain unchanged."
The statement added: "In EMIS Health, the group’s leading NHS market shares have been maintained. As anticipated, new business sales moved forward albeit with a different product mix with lower gross margins, mitigated by reduced costs.
"EMIS Enterprise has grown its recurring revenues. In contrast to the comparative period in 2019, opportunities for non-recurring contracts have been limited during the lockdown period, however there are some early signs of recovery in the market.
"As previously indicated, and given its strong financial position, the group has continued to invest in the development of its strategic roadmap while carefully controlling costs across the business. It should be noted that no staff have been furloughed during the pandemic."
Commenting on its financial position, EMIS said; "The group’s net cash at 30 June 2020 was £44.1m (31 December 2019: £31.3m), with the seasonal first half working capital inflow increased by the VAT payment holiday in the second quarter of the year (which amounted to £7.3m). The group continues to have no debt, with banking facilities available of up to £60.0m."
Andy Thorburn, CEO of EMIS Group, said: “Our NHS customers have worked tirelessly to support the nation during the COVID-19 pandemic and we thank them all for their commitment and dedication. We have been delighted to play our part in keeping mission-critical systems available throughout this period while delivering urgent solutions quickly to site.
“In particular, I am very proud of the work that the EMIS Group team has done throughout the crisis, with particular thanks to our field-based engineering and delivery staff who continued to deliver products and services to practices and hospital sites, observing local social distancing rules and utilising full PPE to minimise risks to all concerned.
“We have performed well as a business in adapting to these new challenges and are hopeful that our markets will continue to recover during the second half of the year.
“The board remains confident in the outlook for the business.”
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