EMIS 1st Half Pretax Profit Slipped on Exceptional Costs; Revenue Rose

By Joe Hoppe

EMIS Group PLC said Wednesday that its first-half pretax profit slipped despite a rise in revenue, primarily on one-off costs related to its technology transformation program.

The U.K.-listed healthcare-software provider said pretax profit slipped to 15.4 million pounds ($16.5 million) from GBP16.3 million a year before. On an adjusted basis, operating profit rose 12% to GBP22.4 million.

Revenue rose to GBP87.3 million from GBP83.5 million, it said. The company said it has good future visibility and high levels of recurring revenue.

The board declared an interim dividend of 17.6 pence a share, unchanged from the year prior.

The company said its recommended acquisition by a UnitedHealth Group Inc. subsidiary, announced in June, is progressing well.

"Our focus remains on developing our technology strategy in alignment with healthcare policy and market trends, most notably in the areas of connected care and data and analytics. Our strategy will address the needs of the healthcare sector as it moves further into the digital future and we look forward with confidence," Chief Executive Andy Thorburn said.

Shares at 0712 GMT were up 2.0 pence, or 0.1% at 1,892.0 pence.

Write to Joe Hoppe at [e-mail]

(END) Dow Jones Newswires

September 28, 2022 03:45 ET (07:45 GMT)

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