| Principal activities
|
|
| The Group is a software products business, licensing proven
application software to healthcare provider organisations from
an established product portfolio. It also provides application
product packaging, development, installation, system configuration,
training and customer support services in respect of its applications. |
|
|
| Business review
and future developments |
|
| The Group will continue to enjoy growth for the foreseeable
future. The Chairman’s
Statement, the Chief
Executive’s Report, the Operating
Review and the Financial
Review provide further details of the business during the
year and of future developments. |
|
|
| Results and dividends
|
|
| The results of the Group are set out in the consolidated
profit and loss account. The directors recommend the payment
of a final dividend of £1.5m to the holders of the ordinary
shares, which together with the interim dividend of £0.7m,
gives a total equity dividend payment for the year of £2.2m. |
|
| After payment of dividends, the retained profit for the financial
year was £11.1m. |
|
|
| Directors
|
|
| Details of the directors of the Company serving during the
year were as follows: |
|
| Roger
Dickens (55), Executive
Chairman, was appointed to the Board of iSOFT Group plc on 28
April 1999. He is currently non-executive Chairman of West Bromwich
Building Society and a non-executive director of Carillion plc. |
|
| Patrick
Cryne (52), Chief
Executive Officer, was appointed to the Board of iSOFT Group plc
on 28 April 1999. It was announced in November 2002 that he will
take on the executive role of Director, Corporate Development
from 23 July 2003. |
|
| Tim
Whiston (35), Group
Finance Director, was appointed to the Board of iSOFT Group plc
on 14 April 2000 and has acted as Company Secretary since that
date. It was announced in November 2002 that he will be appointed
to Chief Executive Officer from 23 July 2003. |
|
| Steve
Graham (39), Chief
Operating Officer, was appointed to the Board of iSOFT Group plc
on 28 April 1999. |
|
| Digby
Jones (47), Senior
non-executive director*, was appointed to the Board on 19 May
2000. He is Director General of the Confederation of British Industry
(CBI), a director of Business in the Community and Chairman of
etrinsic plc. |
|
| Eurfyl
ap Gwilym (58),
Non-executive director*, was appointed to the Board on
19 May 2000. He is a director of Principality Building Society
and was formerly a director of The Terence Chapman Group plc. |
|
| Geoff
White (50), Non-executive
director*, was appointed to the Board on 19 May 2000. He is Chairman
of SMP Group and Chairman of Tekdata Group Limited. He was formerly
Chief Executive of Pressac plc and a non-executive director of
Derby City NHS Trust. |
|
| Rene
Kern (39), Non-executive director was appointed to
the Board on 14 March 2003. He is a senior executive with General
Atlantic Partners who at the balance sheet date owned 12.8% of
the shares of iSOFT Group plc. |
|
| Graham Wilson
(39), resigned on 5 July 2002. |
|
| *Members of the Group’s Audit Committee
and Appointments and Remuneration Committee throughout the year. |
|
| The Board considers that Digby
Jones, Eurfyl ap Gwilym
and Geoff White were independent
throughout the year and that they remain independent at the date
of this report. |
|
| All directors are subject to election by the shareholders at
the first opportunity after their appointment, and to re-election
thereafter at intervals of no more than three years. In accordance
with this, the directors retiring by rotation are Steve
Graham, Digby Jones
and Geoff White, who being
eligible offer themselves for re-election at the Annual General
Meeting. In addition, Rene
Kern will stand for election at the Annual General Meeting,
it being the first since his appointment. |
|
