Induction Healthcare Group PLC Extension to 2022 annual reporting deadline (2297A)
22 Septiembre 2022 - 1:01AM
UK Regulatory
TIDMINHC
RNS Number : 2297A
Induction Healthcare Group PLC
22 September 2022
Induction Healthcare Group PLC
("Induction", the "Company", or the "Group")
Extension to publication deadline for Audited Final Results
Induction (AIM: INHC), a leading digital health platform driving
transformation of healthcare systems worldwide, announces that
following the grant by AIM Regulation of an extension to its 2022
annual reporting deadline, it now expects to report its final
results for the year ended 31 March 2022 during October 2022,
rather than on or before 30 September 2022.
The extension is required to complete the audit work for the
year ended 31 March 2022 due to COVID related challenges and the
impact it has had on resource availability to complete the required
work.
FY22 Financial Performance
There is no change to the financial performance and, as
previously reported on 21 April , results for FY22 are expected to
be in-line with guidance. A significant increase in contracted
annual recurring revenues ("ARR"), a key metric for the business,
is expected to be delivered, with ARR for the full year of c.
GBP15m (2021: GBP1.8m). Following upgraded market expectations
adjusted EBITDA was at a breakeven level (2021 EBITDA loss:
GBP4.1m) and net cash at 31 March 2022 was GBP7.5m (2021:
GBP2.4m).
Following strong renewals of NHS England Induction Attend
Anywhere ("AA") contracts, the majority with contracts renewed for
2 or 3 year terms, the Group's cash position has also increased
significantly beyond period end levels.
James Balmain, CEO of Induction Healthcare, said: "FY22 was a
transformational year for Induction following the acquisition of
Attend Anywhere and this has continued to deliver into H1 FY23 with
the AA contract renewals. I look forward to presenting our full
results in October and remain confident in the future prospects of
the Company, including trading for the current financial year."
ENQUIRIES
Induction Via Walbrook PR Ltd: induction@walbrookpr.com
James Balmain, Chief Executive Officer
Guy Mitchell, Chief Financial Officer
Singer Capital Markets (Nominated
Adviser and Broker) +44 (0)20 7496 3000
Philip Davies / Kailey Aliyar
Walbrook PR Ltd induction@walbrookpr.com
Paul McManus / Alice Woodings Mob: +44(0)7980 541 893 / +44 (0)7407
804 654
About Induction - www.inductionhealthcare.com
Induction (AIM: INHC) Induction delivers a suite of software
solutions through a single integrated platform that transforms care
delivery. Our system-wide applications help healthcare providers
and administrators to deliver care at any stage remotely as well as
face-to-face - giving the communities they serve greater
flexibility, control and ease of access. Purpose-built for
integration with leading Electronic Medical Record (EMR) platforms,
our products offer immediate stand-alone value that becomes even
greater when integrated with pre-existing systems.
Used at scale by national and regional healthcare systems, as
well non-health government services, our applications are relied
upon by hundreds of thousands of clinicians and millions of
patients across almost every hospital in the British Isles.
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END
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