Advanced Computer seeing healthcare growth

Advanced Computer Software, which provides healthcare and business management software, says it expects revenues to have climbed by a fifth in the six months to the end of August.

In a trading update ahead of its interim results the company says half-year revenues will come in "no less" than £56.7m, 20% ahead of the £47.3m reported at the same stage last year. Of that growth 10% is organic sales, a further 10% has been achieved through acquisitions.

Adjusted earnings before interest tax depreciation and amortisation (EDITDA) rose 10% to £13.2m, of which 8% was organic growth.

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The adjusted EBITDA margin is expected at 23% following the purchase of Fabric Technologies for £4.6m in April.

Advanced says its Health and Care unit is now the preferred supplier to more than 70% of the NHS 111 market while the group's target of 26,000 users of iNurse and iCare products by the year-end looks "achievable".

Advanced's Chief Executive Vin Murria said: "We expect to deliver excellent organic revenue growth of 10% for the half year and are continuing to see good growth opportunities for our products and services in both the public and private sectors, despite the current economic environment."

BS