Sydney, Nov 5, 2009 (ABN Newswire) - iSOFT Group Limited (ASX:ISF) today released a presentation by Executive Chairman & CEO Gary Cohen at the UBS Australian Healthcare Conference in Sydney.
In particular, we would like to draw your attention to slides entitled "Bury PCT - Lorenzo's latest success" and "Outlook" of the attached presentation which provide updates on iSOFT's progress with the National Programme for IT in England and the potential impact of projected currency volatility on Group revenue in FY10.
Lorenzo Regional Care version 1.9
The slide entitled "Bury PCT - Lorenzo's latest success" provides highlights of the "go live" of the latest version of Lorenzo Regional Care at Bury NHS in England. More detail about this important milestone in the National Programme is provided in a separate ASX announcement today.
Currency impact on FY10 revenue
The slide entitled "Outlook" updates the guidance provided at our FY09 results presentation on 18th August by projecting the impact of recent volatility of the British pound and the euro relative to the Australian dollar on FY10 revenue.
iSOFT is on track to record organic sales growth of 10% in FY10. The British pound has declined about 20% against the Australian dollar compared with the first four months of last year. As about 55% of Group revenues are earned in the United Kingdom, this is expected to weigh on Group revenue by about 10% should the currency remain at the same level for the remainder of the fiscal year.
The company retains its forecast for an EBITDA margin of about 25% as natural hedging within iSOFT's core regional businesses offsets currency affects.
As all bank debt is denominated in British pounds, the decline in currency results in a reduction in overall debt and interest payments.
About iSOFT Group Limited
iSOFT Group Limited (ASX:ISF) is the largest health information technology company listed on the Australian Securities Exchange, and among the world's biggest providers of advanced application solutions in modern healthcare economies.
iSOFT works with healthcare professionals to design and build software applications that answer all of the difficult questions posed by today's healthcare delivery challenges. Our solutions act as a catalyst for change, supporting free exchange of critical information across diverse care settings and participating organisations.
Today, more than 13,000 provider organisations in about 40 countries use iSOFT's solutions to manage patient information and drive improvements in their core processes. The group's sustainable development is delivered through careful planning, in-depth analysis of the market, and anticipation of our clients' evolving requirements. Our business is driven by the collective talent, experience and commitment of more than 4,700 specialists, including more than 2,700 technology and development professionals.
A global network of iSOFT subsidiaries, supported by an extensive partner network, provides substantial experience of national healthcare markets. As a result, we offer our clients comprehensive knowledge of local market requirements in terms of culture, language, working practices, regulation and organizational structure.
Contact
Gary Cohen Executive Chairman & CEO iSOFT Group Limited Tel: +61-2-8251-6700 Email: gary.cohen@isofthealth.com
Stuart Kelly Director, Corporate Affairs iSOFT Group Limited Tel: +61-2-8251-6769 Mob: +61-404-082-361 Email: stuart.kelly@isofthealth.com
iSOFT Group Limited
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