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Market:	AIM
Sector:	Software
EPIC:	ASW
Latest Price:	49.75 (0.00%)
52-week High:	50.50
52-week Low:	32.13
Market Cap:	176.56M

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Advanced Computer Software Group plc Full Advanced Computer Software Group plc profile here

Advanced Computer Software Plc comprises three main divisions: Business Solutions, Health & Care and Managed Services. Together, these divisions provide a range of software and IT services that enable public, private and third sector organisations to retain control, improve visibility and gain efficiencies through streamlined processes.

Advanced Computer Software sees first-half EBITDA ahead of market expectations

Thursday, September 09, 2010

Healthcare and commercial sector-focused IT group Advanced Computer Software Group PLC (LON:ASW) expects to report first half revenues to be in line with market expectations and adjusted EBITDA to be ahead of expectations.

Revenues for the half year ended August 31 2010 are expected to rise to £47.3 million from £11 million a year earlier and the EBITDA figure is expected to be no less than £12 million, up from £3 million in the previous year.

Cross selling contracts worth more than £6 million have been signed with new customers during the period, including a fully outsourced managed service incorporating ACS’s business management software for the Nursing and Midwifery Council and a full suite of accounting software sold as a managed service to Reader's Digest.

Since the acquisition of COA Solutions in February 2010 which provided the group with a robust infrastructure for growth, it has achieved more than £2 million of annualised cost savings.

Now trading as Advanced Business Solutions, COA's portfolio of successful and well-established business management products is an ideal complement to ACS's suite of patient management systems, particularly as healthcare funding shifts towards GP consortia.

The group said it is is strategically positioned to respond to this significant market opportunity by providing front office, back office and clinical systems to the 500 to 1,000 GP consortia that are expected to be established who represent an extension of the GP co-operatives and social enterprise organisations already part of the group's traditional client base.

Chief executive Vin Murria commented: “Advanced offers mission critical products for both the public and private sectors. We believe this diversification will protect the group from the worst of the anticipated public sector spending cuts.

"NHS budget responsibilities are shifting towards GP consortia and we have exactly the software and services they will need to manage their budgets more effectively on the taxpayer's behalf," she added.

The group expects to publish its interim results in mid-November 2010.

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