EMIS Group, the healthcare-software provider listed in the UK, has announced a slip in pretax profit for the first half of the year, despite an increase in revenue. The decline in profit is primarily attributed to one-time costs associated with its technology transformation program and corporate transaction costs. However, adjusted profit did rise during the same period.
The company reported a pretax profit of £13.2 million ($16.5 million), down from £15.4 million the previous year. On an adjusted basis, operating profit saw a 7% increase to £23.9 million. This growth can be attributed to strong growth in recurring revenue, which partially offset lower non-recurring revenue, higher staff costs, and increased operating expenses.
Revenue for the period rose to £88.8 million from £87.3 million. EMIS Group expressed confidence in its future prospects, citing good visibility and increasing levels of recurring revenue.
Furthermore, the board declared an interim dividend of 21.3 pence per share, up from 17.6 pence.
Chief Executive Andy Thorburn commented on the company’s strategy, stating that it remains focused and relevant in addressing the healthcare sector’s growing reliance on data. He expressed their confidence in the future outlook.
As of 0834 GMT, shares were up 4.0 pence, or 0.2%, at 1,922.0 pence.