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Emis Group PLC on Thursday reported increased revenue in 2021, due to a recovery in its Health segment and growth in its Enterprise arm, but profit fell on increased expenses.
The Leeds-based company, which makes software used by healthcare providers, posted a pretax profit of £36.1 million in 2021. This reflects a 2.2% decrease from £36.9 million posted in 2020.
Profit was hurt by operating expenses that increased 18% to £26.7 million from £22.6 million and staff costs that rose 14% to £72.3 million from £63.4 million. Further, Emis received a payment of £782,000 in 2020 in relation to the disposal of its Specialist & Care business in 2019.
Full-year revenue increased by 5.5% to £168.2 million from £159.5 million the year before.
The company credited the growth in revenue to a ‘more normal’ trading pattern in its Emis Health segment following a hit by the pandemic in 2020. Double-digit revenue growth in its Emis Enterprise also contributed to the growth.
Emis proposed a final dividend of 17.6 pence, up 10% compared to the final of 16.0p in 2020. Its total dividend amounted to 35.2p, reflecting 10% growth from 32.0p the year before.
Looking ahead, Emis believes that its strong balance sheet will provide the platform to deliver organic and inorganic growth ambitions.
Emis said it will remain focused on delivering consistent revenue growth, as well as expanding margins over time.
In 2021, its operating margin fell to 21.3% from 22.4% in 2020.
‘It has been a positive year of good growth and margin performance driving strong results, with the group delivering the eleventh consecutive year of dividend growth,’ Chief Executive Andy Thorburn said.
‘Emis Group is well placed with products directly aligned to market need, including integrated care software to the NHS, and data and analytics technology to the research and life sciences industry. This will be critical as the sector looks to provide the best healthcare possible to the UK population.’
Shares were up 0.3% at 1,254.00 pence each on Thursday morning in London.
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