
We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Sysgroup Plc | LSE:SYS | London | Ordinary Share | GB00BYT18182 | ORD 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 19.50 | 19.00 | 20.00 | 19.50 | 19.50 | 19.50 | 0.00 | 08:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Computer Related Svcs, Nec | 22.71M | -5.9M | -0.0709 | -2.75 | 16.23M |
total dividend of 0.75p (2009: 0.66p) for the year. This represents an increase of 14% on 2009 and reflects the strong financial performance and cash generation of the business. If approved by the shareholders at the Annual General Meeting on 10 November 2010, the final dividend will be paid on 15 November 2010 to those shareholders on the register on 15 October 2010. Current trading and outlook The structural changes proposed for the NHS in the Government's White Paper, Equality and Excellence: Liberating the NHS, are extensive and likely to impact most areas of healthcare provision and associated services. Health Minister Simon Burns has since made clear that all acute Trusts will be free to manage their own IT projects on the principle of connected systems and interoperability with a plural system of suppliers. The details of the Government's strategy will become clearer again over the coming months. The market for IT products in the NHS is already opening up to a wider range of suppliers. The Company is currently experiencing a significant increase in interest for its hospital products and is active in a number of PAS/EPR procurements. As we made clear in our trading update in September, negotiation periods for these large scale contracts are inevitably protracted and revenues from sales of the new hospital-wide system are expected to come on stream in the second half of the current financial year and beyond. The opening up of IT procurements following changes in the National Programme for IT is a significant opportunity for the Group and we intend to take a long term view to maximise our position in such a market. The Directors recognise that in the short term, Government spending cuts present a risk to revenues, particularly services revenues. The timing of NHS procurements and deployments will have a significant impact on the Company's performance during the current year as System C continues its transition into a product-led company. During this period the Company will be focused in particular on cost management to ensure that costs remain in line with the revenue streams. As at 31 May 2010 the Company had net cash balances of approximately GBP18.6 million. The Board considers there to be significant product opportunities in the medium term, which will lead to greater prominence of product revenues, improved margins and increased predictability in services utilisation. Chief executive officer's review I was very pleased with the performance of the Group across the board this year as we made significant progress in all areas. This is very much a time of transition for System C as we adjust to the slowdown in National Programme deployment activity and the corresponding rise in large system procurements by individual NHS Trusts. There is no doubt that the next 18 months will be a key time in the Group's development. As I have explained in previous annual reports, the Group has been investing heavily in product development over the last five years. We have been working to a detailed strategy to broaden the capability of the Group through a long-term investment programme aimed at delivering sustained profitable growth. At the core of this strategy was the need to drive organic growth through the development of new products, enhanced by our services capability and capacity and supported by an on-going programme of acquisitions. I am excited to see our next generation Medway product suite come to the market and secure early contract wins at a time when the market is opening up. Products - new technologies for changing markets The product division has performed very well in the year. With revenues of GBP20.6m (2009: GBP6.5m), it now accounts for approximately 54% of total Group revenues (2009: 30%). We are pleased with this progress and expect to see an increasing percentage of our revenues coming from our own products in the coming years. We are delighted with the market response to our next-generation Medway software. Demonstrations of the software have been well-received and we achieved a significant strategic win with the Royal Devon & Exeter NHS Foundation Trust to supply our Medway order communications and electronic-prescribing software, a first step in the implementation of a complete EPR system. One of Medway's key selling points is that it is very advanced technically and this was recognised by Microsoft in July when System C was named world-wide winner of the prestigious 2010 Microsoft Partner of the Year award in the category 'Public sector health partner'. The award recognises outstanding innovation and solutions which deliver real benefits to a customer's business, and System C was chosen from nearly 3,000 entries drawn from all around the world. The entire Medway product range - which also includes PAS, EPR and numerous departmental systems including A&E and maternity - is based on the latest Microsoft technologies. The year also marked our 17th year of partnership with Aintree University Hospitals NHS Foundation Trust, building a fully-integrated PAS/EPR solution across one of the country's largest acute Trusts. The partnership has already delivered many millions of pounds of benefits to Aintree, and the Trust is now looking to realise a further GBP5m over the lifetime of the next generation of Medway software. The close working relationship with Aintree has enabled System C to engage in continuous development and enhancement of its Medway PAS/EPR products to meet the NHS's evolving needs and to capitalise on opportunities offered by new technology. Over the course of the year we celebrated our 50th Medway deployment when Mid Cheshire Hospitals NHS Foundation Trust went live with a Medway maternity information system. Other recent product installations have included multiple deployments of the Company's clinical dashboard, web portal, maternity, accident and emergency, and other departmental modules. The latter stages of the deployment of a wide range of health and social care systems on behalf of the Isle of Man Government have also gone to plan, and it is expected that the final elements of this large-scale programme will be completed successfully by the end of calendar year 2010. Liquidlogic has begun integrating its product and marketing efforts with System C's healthcare ranges and has made its first sale of a Medway dashboard to a social care client. System C and Liquidlogic have also produced the UK's first health and social care link under NHS Connecting for Health's new standards for systems integration. Spending constraints present a challenge in the social care market, but the procurement pipeline for social care systems is strong. Conscia, acquired in October last year, successfully developed a new health portal for NHS Scotland which offers health and social care professionals on-line access to a vast knowledgebase of clinical guidelines, evidence materials, training and professional development resources. Launched by Nicola Sturgeon, Scottish Cabinet Secretary for Health and Wellbeing, the portal is also aimed at patients and members of the public, giving them the latest information about a condition, for example, symptoms and treatment. In addition to providing access to over 12 million resources, the portal offers a range of collaborative features such as social bookmarking, shared interests, and tag clouds. Another landmark was the collaboration with GP software supplier EMIS, which has resulted in University Hospital Aintree in Merseyside being able to seamlessly link patient information from 100 GP practices, representing 450,000 patients, to clinicians working across all of its urgent care services. The project - the first in the UK to link two different primary and secondary care IT systems on this scale - is designed to improve patient care and deliver significant efficiencies by providing vital patient information at the point of need. In 2008, we were successful in our bid to be awarded framework contracts in 16 categories in the UK Government's Additional Services Capability and Capacity (ASCC) procurement. This was an important win for the Company because only companies included in the framework contract catalogue are eligible to bid in ASCC procurements. System C has won a number of high value ASCC contracts since that time, most notably last year's dashboard contract for NHS Connecting for Health. ASCC procurements, particularly for Trusts looking to replace PAS, EPR and clinical systems in a streamlined procurement process, have been slower off the ground than anticipated. However, in recent months the pace has picked up considerably. NHS Connecting for Health is now running its own ASCC procurement for community, ambulance and acute systems on behalf of a large number of Trusts in the South of England. In addition, many individual Trusts are running or planning ASCC procurements. Services - world-class delivery capability and capacity Services revenue at GBP17.8m is 16% higher than last year (2009: GBP15.4m).We continue to have a well-earned reputation for providing successful deployments both on time and on budget across our own products and across a range of third party systems. System C staff have been involved with many of the major acute system go-lives during the year including Lorenzo and Cerner Millennium deployments. This breadth makes us unique in our market. In recent months we have seen a slowing down of new services enquiries and of ongoing work from existing clients as public sector budgets come under further review. We have taken steps to control our cost base in the short term while keeping the ability to expand our services capability as the economy recovers. However, our services capacity and capability is also a key selling advantage for our product sales team and we are expecting substantial increases in Medway-related services activity with the first wave of procurements. Future strategy
1 Year Sysgroup Chart |
1 Month Sysgroup Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions