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EMIS Group hikes interim dividend amid solid results despite legacy investments

The healthcare software group reported a pre-tax profit for the period of £13.07mln, up from £10.6mln in the first half of 2017, while revenues climbed to £84.5mln from £79.1mln

Hospital doctors using computer
The firm upped its interim dividend by 10% to 14.2p per share

EMIS Group PLC (LON:EMIS) has hiked its interim dividend as it reported a solid set of half year results despite investments in completing legacy tasks and improving its service execution.

The AIM 100 healthcare software group reported a pre-tax profit for the period of £13.07mln, up from £10.6mln in the first half of 2017, while revenues climbed to £84.5mln from £79.1mln.

Still more work to do

The firm also hiked its interim dividend by 10% to 14.2p per share, while its net cash balance jumped to £32.2mln from £10.5mln in the first half of 2017.

In its outlook, EMIS said it had good revenue visibility and order book for the rest of the year, although it added that there was “still more work to do” to bring its performance up to standard, with core foundations of growth being laid in changes made last year.

Andy Thorburn, chief executive of EMIS, said: "We made encouraging progress in the first half in line with the Board's expectations, delivering further revenue growth and an improvement in profits, despite our investment in Patient and our legacy-related service execution.

"With a strengthened senior leadership team now in place and further growth in recurring revenues, we remain confident of delivering on our expectations for the year as a whole."

In early morning trading Friday, EMIS shares were up 2% at 934p.

Quick facts: EMIS Group plc

Price: 1180 GBX

AIM:EMIS
Market: AIM
Market Cap: £747.07 m
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