2nd Oct 2014 06:50
LONDON (Alliance News) - Information management software supplier Ideagen PLC Thursday said it has won its largest single NHS contract to date, a GBP1 million deal to supply its patient management software to the Doncaster and Bassetlaw Hospitals NHS Foundation Trust, and overall revenue and operating profits are expected to be significantly up on the year in its first half.
In a statement, the company said it expects to recognise about 65% of the NHS contract value in the current financial year, which ends on April 30, 2015.
It added that overall trading in its financial year to date has been "robust" in all areas of its business, and it expects revenue and adjusted earnings before interest, tax, depreciation and amortisation for the first half of its financial year to show "significant growth" over the year-earlier period. The first half ends on October 31.
The adjusted profit figure strips out share based payments and acquisition costs.
Ideagen said organic growth has been strong, and it has also been buoyed by its acquisition of EIBS, which is now integrated into the business and performing in line with the company's expectations.
"We are seeing increased traction in our Governance, Risk and Compliance business and the NHS continues to be a strong market for the group; both of which are evidenced by the group's robust trading," Chief Executive David Hornsby said in a statement.
"We are seeing the benefits of the recent acquisitions coming through already and look forward to the remainder of the year with confidence," he added.
By Steve McGrath; [email protected]; @stevemcgrath1
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