30th Aug 2019 07:49
(Alliance News) - Emis Group PLC on Friday said profit declined marginally in the first half of the year in part due to some reorganisation costs.
The healthcare software and systems firm's pretax profit for the six months ended June 30 was GBP12.1 million, 4.0% below the GBP12.6 million profit the year before.
Staff costs rose 9.4% to GBP34.9 million from GBP31.9 million, of which GBP2.1 million was from reorganisation, with no such costs the year before.
Other operating expenses, meanwhile, increased 30% to GBP14.8 million from GBP11.4 million, including GBP40,000 of reorganisation costs. Again, no such reorganisation costs were incurred in 2018.
The reorganisation involved restructuring the business into two segments, EMIS Health and EMIS Enterprise, and investing more in internal systems.
Revenue, however, rose 7.3% to GBP79.8 million from GBP74.4 million.
Chief Executive Andy Thorburn said: "We have continued to demonstrate good progress in the first half of 2019, delivering positive results in line with the board's expectations, with both revenue and adjusted operating profit ahead of the comparative period.
"We are well positioned to secure our place on the GP IT Futures framework for GP software in England and continue to invest in patient-facing technology and the next generation EMIS-X platform. With our balance of technology, clinical standards and a continuously improving technical environment, the Group is well placed to deliver on its growth and margin targets."
Related Shares:
EMIS.L