Emis, the AIM-listed firm healthcare software provider, saw a strong increase in revenue and profit in 2011 after it was able to maintain its market-leading position in the GP clinical software industry.
The company, whose software covers medical record history, prescriptions and appointment said that revenue increased by 18% to £73.2m in the 12 months to December 31st, up from £61.9m in 2010 and slightly ahead of the £73.1m expected by the consensus.
Its market share of the GP software market was more or less unchanged at 53.1% in 2011, representing 5,397 practices. The company ramped up its roll-out of EMIS Web GP with 360 GP practices having the product installed (44: 2010) and has also seen a significant increase in orders placed. EMIS said that a significant acceleration in the EMIS Web installation run rate is planned for 2012.
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Its RX Systems product (pharmacy software) increased market share to 34% of UK pharmacies, from 25% in 2010.
Meanwhile, pre-tax profit rose by 19% from £18.1m to £21.4m, just under the £21.9m estimate.
The firm proposed to raise its final dividend per share by 11% to 6.2p (5.6p: 2010), taking the total payout per share to 12.4p, also up 11% on the previous year (11.2p: 2010).
Companies working in the healthcare market have recently being hampered by the government's shake-up of the NHS, but Emis believes that it is relatively immune and could even benefit from the proposed changes.
"Despite the political upheaval and austerity challenges in the NHS, the cross-organisational potential of EMIS Web means the Group is well positioned to benefit from the 'connect all' strategies throughout the UK," said Chief Executive Sean Riddell.
"This is especially the case when coupled with the planned devolution of power to Clinical Commissioning Groups, ring fencing of the public health budget and with information sharing being the key to better care outcomes and reduced cost."
BC
