iSoft shares take a tumble

Health provider iSoft saw its shares plummet this afternoon on news that profits will be hit by delays to Government improvements to NHS IT.

The company told the Stock Market today that revenues would be some £55m lower than expected because of delays to the NHS programme for IT. Despite reassurances that the rest of its business was not affected, iSoft shares quickly headed south.

iSoft shares fell by more than 42 per cent from 310 pence per share to 207p.

The trading statement says that because of delays: "...it is now clear that delivery of iSOFT application solutions to NHS Trusts will occur, in general, later than previously expected by the company. iSOFT anticipates that the overall revenue opportunity over the whole life of the programme remains broadly in line with its initial expectations."

Read the full statement here.®