24th Oct 2022 13:47
Induction Healthcare Group PLC - London-based hospital administration software provider - Says results for financial year to March 31 will now be released on or before November 28. The results were initially due on September 30, before being pushed back to October. The continuing delay is "a result of staff shortages at the company's auditor and following the unexpected bereavement of a family member of one of the company's board," it explains.
Induction says there will be no change from details previously provided, and results will be in line with guidance. In September, it said annualised recurring revenue was expected to have grown to around GBP15 million year-on-year from just GBP1.8 million. Adjusted earnings before interest, tax, depreciation and amortisation is expected at breakeven, compared to a GBP4.1 million loss a year before. Net cash at year-end was GBP7.5 million, compared to GBP2.4 million.
Induction will issue a trading update on the half year that ended September 30 during November.
Current stock price: 37.94 pence, up 2.5% on Monday in London
12-month change: down 25%
By Elizabeth Winter; [email protected]
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