Trading in line with expectations at Emis

The Leeds-based company said it continued to benefit from growing recurring revenue, strong market shares and good momentum in its order books and pipelines, despite the uncertainty created by the general election and the ongoing slower rate of contract awards in larger NHS procurements.

Since the appointment of Andy Thorburn as CEO on May 1, 2017, the previously announced internal reorganisation programme has been expanded, with the cost-savings from the programme providing benefit from the second half onwards.

Mr Thorburn said: “EMIS Group has continued to deliver results in line with our expectations. In my early weeks in the business I have been encouraged by the dedication of our people to delivering ever better digital technology and patient information.

“I believe this commitment and the existing strong market shares provide a firm base for the group to continue to generate good levels of growth in the years ahead, despite the challenging funding environment in the NHS. The Board therefore remains confident in the outlook for the business.”

Emis said its net cash at June 30, 2017 was £10.5m, with the group successfully concluding its scheduled refinancing, securing a new revolving credit facility of up to £60m with Barclays and Lloyds for an initial three year period.