EMIS Group (EMIS); 1H18 results: strong cash flow performance

Published on 31-08-2018 07:36:57
Author Sparks Team

For the six months ended 30 June 2018, revenue increased by 7% (completely organic) to £84.5m (1H17: £79.2m). Adjusted operating profit for the period was £17.6m (1H17: £17.5m), while adjusted basic and diluted EPS were unchanged at 22.2p and 22.1p, respectively.

Revenue increased in the Primary, Community & Acute Care segment, while performance in the Community Pharmacy division reflected a strong performance in the market and in operational delivery of the ProScript Connect roll-out, with a 14% increase in revenue and 36% increase in adjusted operating profit.
The Specialist & Care segment’s results were in line with expectations with the full period benefit from 2017’s new contracts driving revenue growth. In the Patient division, investment in developing the future business model continued in line with the strategic plans, resulting in an increased loss of £1.7m in the period.
The board has decided to increase the interim dividend by 10% to 14.2p (1H17: 12.9p) per share. Net cash generated from operations increased by 24% to £32.2m (1H17: £26.0m).
EMIS states its current trading and outlook is focused on execution while planning for growth. It sees good revenue visibility and order book for the rest of 2018, and remains confident of delivering board’s expectations for the year as a whole.
Andy Thorburn, EMIS’ CEO, commented: “We made encouraging progress in the first half in line with the board’s expectations, delivering further revenue growth and an improvement in profits, despite our investment in Patient and our legacy-related service execution.”

Share this with friends and colleagues

Company list