Trading Update

RNS Number : 5769H

EMIS Group PLC

13 July 2012

 



                                                                                                                              13 July 2012

EMIS Group plc

Pre close Trading Update for the six months ended 30 June 2012

Notice of results

EMIS Group plc ("EMIS Group" or "the Group"), the UK's leading supplier of clinical software and related services to GPs and a major software supplier to high street pharmacists, announces a trading update for the six months ended 30 June 2012. The Group intends to issue its half year results on 31 August 2012.

Trading for the half year was slightly ahead of expectations. EMIS Group continues to benefit from significant and growing revenue visibility.

During the first half, the roll-out of EMIS Web accelerated as expected and, at the period end, there were 747 live EMIS Web GP practices with 121 installed in June 2012. There were also 1385 unfulfilled orders for EMIS Web GP and 2753 GP practices in the Familiarisation Service. The Group also put in place the majority of the people and processes necessary to support the accelerating roll-out of EMIS Web GP with a capacity of up to circa 200 EMIS Web practices per month by September 2012.

The senior management team of EMIS, the Group's clinical software arm, was augmented, including the appointments of a new Chief Operating Officer and a Chief Technology Officer. In addition, significant further development resource was added to address future opportunities within the Group's marketplace.

The Group announced today the forthcoming retirement of its CFO, Phillip Woodrow. Phillip will be succeeded by Peter Southby. Peter will join the Group from ENER-G plc where he is the Group Finance Director and was formerly Group Finance Director of Augean plc. Peter will join the Group no later than mid-November 2012 and there will be an appropriate hand over period.

The Group's UK market share remains strong with 36.0%* of high street pharmacies and 52.2%* of GP practices.

Preliminary discussions about the renewal of the English GPSoC Framework have begun but these are still at an early stage. The NHS Wales Informatics Service has awarded EMIS one of only two Framework Agreements for the supply of a managed GP service solution in Wales.

RX Systems, the Group's pharmacy system provider, has continued to grow its market share.

The Group continues to be highly cash generative with net cash of £17.7 million as at 30 June 2012 (30 June 2011: net cash £12.8 million).

The Directors welcome the NHS' continuing drive to put responsibility for decision-making and commissioning of services in the hands of GPs and other clinicians, with the centre 'getting out of the way' allowing information to be used to drive integrated care across the entire health and social care sector.

With the NHS increasingly acknowledging that information and IT are at the heart of new ways of working, EMIS Web is a key element in connecting and integrating NHS systems. The Directors therefore firmly believe that the Group is well placed to benefit from these opportunities within the NHS.

Sean Riddell, Chief Executive of EMIS Group, said:

"So far 2012 has been another busy year for EMIS Group. We have accelerated the roll-out to GPs of EMIS Web, our transformational healthcare system, whilst RX Systems continues to grow its market share. The outlook for the remainder of the financial year is encouraging and we continue to be positive about the Group's prospects.

"We are delighted to be an integral part of what the Department of Health recently described in its new IT Strategy (The Power of Information) as ''the solid foundations [the Department of Health] have to build upon … providing one of the most successfully and universally computerised primary care systems in the world and national information flows that are the envy of many [other] developed countries'."

Enquiries:

For further information, contact:

EMIS Group plc                                                                                             Tel: [phone]

Sean Riddell, CEO

www.emis-online.com

Numis Securities Limited (Nominated Adviser & Broker)                          Tel: [phone]

Michael Meade/Simon Willis/James Black

MHP Communications                                                                                   Tel: [phone]

Reg Hoare/James White/Giles Robinson                       

Notes to Editors

EMIS Group is the UK's leading supplier of software and related services to GP practices and a major supplier to high street pharmacies. 52.2%^* of GP Practices in the UK have an EMIS Group system. In addition, 36.0%^* of high street pharmacies have an RX Systems application.

The Group's core activities include software development, software licensing and support, hardware support and maintenance services, hardware sales, third party software sales and training services.

The Group's software includes all of the functionality specified in NHS accreditation standards for GPs, including holding the patient's cradle to grave electronic healthcare record, practice appointment booking systems and consultation and intelligent prescribing modules as well as a full range of high street pharmacy software products and related services.

EMIS Web represents the next generation of clinical software systems and the Directors believe it has the potential to transform the delivery of healthcare by enabling GPs and other healthcare practitioners to connect with each other and securely share access to a patient's cradle to grave electronic health record.

Established in 1987, EMIS Group' shares were listed on AIM under the trading symbol EMIS.L following a successful fundraising in March 2010.

 (^*EMIS  data estimated based on company records showing customers installed or ordered (by contract or letter of intent) as at 29 June 2012. RX Systems data is based on company records to 29 June 2012 and latest available data from The National Pharmaceutical Association as at March 2010.)

 

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