Full Year Results 

Emis takes its medicine

Emis takes its medicine

We were braced for weaker results from Emis (EMIS) after the healthcare software group advised in January that it had identified a failure to meet certain reporting obligations with NHS Digital. This related to Emis’s web product for GPs. At the time, management anticipated a financial impact “in the order of upper single digits of millions of pounds”. In the event, the provision came in at £11.2m. This should cover potential financial settlement and any costs involved. Operating profit consequently dropped by over a half, from £23.5m to £10.6m, although the figure still came up short of the 2016 comparative when adjusted for exceptional items.

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