News

NHS deal lifts Ascribe

01 October 2008 11:54:00

Healthcare industry-focused IT group Ascribe has enjoyed a sharp rise in direct orders since being awarded the contract to provide IT services to the NHS's National Programme.

After a slow start to its financial year the group grew revenue by 14% to £17.4m in the year to end-June from £15.3m the year before, with organic growth of 10%.

The proportion of revenue from recurring maintenance contracts eased to 59% from 63%.

Profit before tax rose to £3.83m from £2.98m the year before.

The group has suspended the payment of dividends while discussions about the possible management buy-out continue.

"We continue to receive positive feedback from our customers as we satisfy their ever-broadening needs and we are confident that the Group will continue to meet management expectations in 2008/2009," said Stephen Crichlow, executive chairman of Ascribe.

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