| Overview
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| Demand for modern healthcare software applications in the United
Kingdom, Ireland and Australasia remained buoyant throughout the
year. |
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I am pleased to report that in all
our chosen target markets our success
in procurements for major hospital system
replacements and upgrades resulted in
increased market shares for the Group.
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| Business
review |
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| The past year has been very exciting for iSOFT. In my last
Operating Review in 2002, I commented that "I see no immediate
barriers to the continuation of our operational success"
and indeed the year ended 30 April 2003 presented no significant
barriers to impede our revenue growth or our growing reputation
as a provider of robust and quality healthcare applications with
a 52.2% increase in overall revenues year on year. Europe and
Asia Pacific, our two main geographical regions, both showed significant
revenue growth with Europe increasing by 45.8% and Asia Pacific
by 87.2%. |
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| The iSOFT proposition has been carefully crafted over recent
years with a dedicated focus around the provision of leading applications
and, where required, the attendant services for system deployment
and support. This strategy has positioned the business strongly
for the procurement reforms currently underway in England. The
comprehensive NHS National Programme for Information Technology
in England is in full swing with the awarding of the first of
five regional Local Service Provider contracts expected in October
2003. |
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iSOFT is positioned well as an application
content provider with its leading edge
technology solution complemented by an
existing user base already operating modern
solutions. |
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| Similar NHS IT enhancement programmes are envisaged for Scotland
and Wales and I am confident in our proposition and positioning
in relation to IT modernisation for these markets. |
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| We have continued to develop our proposition for the healthcare
applications market in Ireland and are now in the position of
preferred supplier as the government proceeds with the rollout
of its healthcare IT modernisation programme. |
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| I am also pleased to report that iSOFT secured its first customer
in China during the year. This win represents a significant development
in the execution of the iSOFT strategy which includes controlled
geographical expansion into new markets where demand for the iSOFT
application exists. There are plans to build our Asia Pacific
business interests further during 2004. |
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In the Australian market, where we
had already secured a dominant market
share, demand remained buoyant with a
number of significant new long-term contracts
signed during the year. |
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