Ascribe sees margins at upper end

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Date: Tuesday 22 Jul 2008

LONDON (ShareCast) - Health IT group Ascribe said margins are anticipated to be at the upper end of management expectations due to the mix of the business period.

“We expect to deliver double digit growth in turnover after a slow start,” said Ascribe CEO Stephen Critchlow.

The group said trading has continued strongly in the second half of the year and is expected to be within the range of market expectations.

Recurring revenue from long term maintenance contracts is likely to account for over 60% of forecasted turnover for the full year, it said.

Current order book is over two times larger than this time last year, which the group feels will continue.

“Combined with a substantial order book and our high level of tendering activity, both in the UK and overseas, we are confident that Ascribe will continue to perform strongly,” added Critchlow.

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