21st Jan 2016 08:25
LONDON (Alliance News) - Healthcare software and services provider EMIS Group PLC said Thursday it traded in line with its expectations in 2015, although it warned its revenue growth was constrained by the timing of contracts in its Secondary Care segment.
EMIS estimates that revenue growth of around 13% was held back by the timing of contracts. Additionally, the company said it expects to report a partial impairment in goodwill related to its Secondary Care business, and a write down in the carrying value of its minority investment in Pharmacy2U.
The company stressed that these impairment charges would not hit its underlying performance.
Shares in EMIS were down 14% at 956.04 pence Thursday morning, shortly after market open.
The company highlighted contract wins in its Primary and Community Care division, including and extension to its current contract with the UK Ministry of Defence, but said that whilst it had made progress in refocusing its Secondary Care business, fewer contract wins had again led to a lower than expected contribution from this division.
However, it noted recent contract wins in Secondary Care which, combined with a strong sales pipeline, reinforces its expectation for a better performance in the coming year.
EMIS will announce its 2015 results on March 16.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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