iSOFT Group Limited (ASX:ISF) Operations Update And UBS Australian Healthcare Conference Presentation
Sydney, Nov 5, 2009 AEST (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.
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
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