22nd Jul 2008 07:00
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Press Release |
22 July 2008 |
Ascribe plc
("Ascribe" or "the Group")
Trading Update
Ascribe plc (AIM:ASP), the health IT group, is pleased to provide an update on current trading in advance of its final results for the year ended 30 June 2008, which it expects to announce on 1 October 2008.
Trading across the Group has continued strongly in the second half of the year and is expected to be within the range of market expectations. Margins are anticipated to be at the upper end of management expectations (on turnover towards the lower end), due to the mix of business in the period. Notably, recurring revenue from long term maintenance contracts is likely to account for over 60% of forecasted turnover for the full year.
The current order book is over two times larger than this time last year. The Group is confident that this high demand from new and existing customers, across the whole product range in both UK and overseas markets, is set to continue.
Scorpio Information Systems ("Scorpio"), acquired in October 2007, has been successfully integrated into Ascribe's existing business. Since the acquisition, the business has won eight new orders for endoscopy systems, doubling its previous annual sales record. Whilst Scorpio made a minor contribution to the group this year the full impact of this acquisition will be seen in 2008/9.
UK government policy continues to drive the need for the Group's systems at both a local Trust and National Programme level. This includes: the selection, in May 2008, of Ascribe and its partners as approved system suppliers under the terms of the ASCC (Additional Supply Capability and Capacity); the national Choose & Book initiative; 18 week waiting limit guidelines; and a national push for single assessment in mental healthcare.
Stephen Critchlow, CEO of Ascribe, said: "I am delighted with the Group's progress in the second half of our financial year. We expect to deliver double digit growth in turnover after a slow start. Combined with a substantial order book and our high level of tendering activity, both in the UK and overseas, we are confident that Ascribe will continue to perform strongly."
- Ends -
For further information please contact:
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Ascribe plc |
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Stephen Critchlow, Executive Chairman |
Tel: : +44 (0) 870 053 4545 www.ascribe.com |
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Jeremy Lee, Finance Director |
Tel: : +44 (0) 870 053 4545 www.ascribe.com |
Investment enquiries:
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Cenkos |
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Ian Soanes |
Tel: +44 (0) 20 7397 8900 www.cenkos.com |
Media enquiries:
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Abchurch |
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Stephanie Cuthbert / Justin Heath |
Tel: +44 (0) 20 7398 7718 |
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www.abchurch-group.com |
Notes to editors
Ascribe plc is a leading healthcare company that develops and markets software solutions supporting patient, clinical and business processes to Primary & Secondary healthcare providers in the UK and overseas. The company has a reputation for delivering robust technology which is critically focused on the needs of clinicians and their patients at the point of care.
Ascribe is committed to providing technologies that improve patient safety standards and the company's solutions directly improve patient care and deliver financial savings to customers. The company sells directly to hospitals and Primary Care Trusts. Ascribe's technology enables customers to report more thoroughly on patient care and also benefits patients by seamlessly contributing to their electronic health care record.
Ascribe provides solutions to clinical professionals in all healthcare sectors; customers include Emergency and Minor Injuries Units, Mental Health and Social Care Units, Hospitals requiring patient administration systems (PAS) and medical equipment management, Hospital and Retail Pharmacies, and General Practice surgeries. Offering patient and decision support information to these clinicians in context with their activity is the key to the company's ongoing success.
Ascribe plc was floated on AIM in 2004, and currently employs over 220 personnel through its operating companies in the UK, Kenya, Australia and New Zealand. For more information, please visit www.ascribe.com
© Ascribe 2008. Ascribe is a registered trademark of Ascribe plc. All other brands and product names and trademarks are the registered property of their respective companies.
Related Shares:
ASP.L