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Shares fall 13 per cent at Emis Group following notice of final results

Shares in clinical software provider Emis Group fell sharply after the company announced that its group adjusted operating profit was forecast to fall short of expectations.

Shares in clinical software provider Emis Group fell sharply after the company announced that its group adjusted operating profit was forecast to fall short of expectations.

The company, which supplies services to GP surgeries and other healthcare practitioners, stated that group adjusted operating profit was expected to be marginally below the analysts' expectations. This was largely a result of accelerated staff and recruitment costs associated with the Emis roll out and slight revenue shortfalls, the company stated.

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Group revenues were expected to be at least £86m, up from £73.2m in 2011, but the group said that this had been partially offset by lower-than-planned revenues from the Australian defence contracts, training and integrated care service.

During the year, the roll-out of EMIS Web for GPs transitioned from controlled to accelerated status, the group reported. By the end of the year 1,676 EMIS Web GP installations had been completed of which 901 were in the second half of 2012. This compared to 406 in the first half of 2012.

After taking into account practice mergers and closures, there were 1,635 live by the end of 2012.

Sean Riddell, EMIS Group Chief Executive Officer, said: "2012 was a very busy year for EMIS Group. We accelerated the roll-out to GPs of EMIS Web, our transformational healthcare system, and RX Systems continued to grow its estate.

"EMIS enables an increasing number of healthcare professionals to use and share patient data in a secure, time efficient and cost-effective manner and we are excellently placed to play an integral part in delivering the IT strategy of the NHS."

The group's share price had fallen 12.78% to 785p at 11:07 on Thursday morning.

MF

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