DXS INTERNATIONAL PLC
Half-Yearly Report
The Directors of DXS International plc are pleased to announce the results of the Company for the six month period ending 31st October 2011.
The half year to October shows the anticipated decline in DXS's traditional revenues from the Pharmaceutical sector, caused by reorganisation within that sector. The decline has now halted.
In the meantime, the highly anticipated new revenue stream for the newly formed Clinical Commissioning Groups (CCG's), which are replacing traditional Primary Care Trusts (PCT's), has begun. This is as a result of DXS signing an integration agreement with EMIS, the UK's largest provider of patient record systems to primary care, plus the new enhancements to the DXS technology catering to specific CCG needs. The result is an exciting solution helping CCGs to achieve their QIPP (Quality, Innovation, Productivity and Prevention) agenda, which is reducing costs without adversely affecting healthcare outcomes. The bottom line is that DXS now enables a CCG to deliver its recommended treatment guidelines, referral forms and guides, patient and professional education, a directory of qualified service providers and prescribing guides to its clinicians during a patient consultation.
DXS has thus far signed five CCGs to the basic care pathway service and DXS hopes to double this number by the end of the financial year in April. Taking into account the effect of the new CCG contracts (whose turnover is not represented in these results), DXS's current level of monthly revenue generation is expected to exceed £1.55m p.a. With more than 250 CCG's and Health Boards throughout the UK, the potential growth for DXS over the next few years is indeed exciting.
Our immediate focus now is on a targeted sales and marketing campaign with increased resources in content management and training to support the new emerging market.
Yours sincerely
David Immelman
CEO
INTERIM RESULTS TO 31st OCTOBER 2012
CONSOLIDATED PROFIT AND LOSS ACCOUNT
for the six month period ended 31st October 2012
| Unaudited 6 Months ended 31st Oct 2012 | Unaudited 6 Months ended 31st Oct 2011 | Audited Year to 30th April 2012 | ||||||
| £ | £ | £ | ||||||
| Turnover | 668,009 | 770,468 | 1,404,997 | |||||
| Cost of Sales | (163,606) | (281,668) | (390,529) | |||||
| 504,403 | 488,800 | 1,014,468 | ||||||
| Administrative Expenses | (484,143) | (467,894) | (959,051) | |||||
| Goodwill written off | (14,253) | (14,253) | (28,505) | |||||
| Operating Profit/(loss) | 6,007 | 6,653 | 26,912 | |||||
| Other interest receivable and similar income | 871 | 788 | 1,618 | |||||
| Interest payable and similar charges | (4,855) | (5,721) | (10,108) | |||||
| Profit/ (Loss) on Ordinary Activities before taxation | 2,023 | 1,720 | 18,422 | |||||
| Tax on Profit on ordinary activities | 0 | 0 | 51,169 | |||||
| Profit/ (Loss) for the period | 2,023 | 1,720 | 69,591 | |||||
| Profit/ (Loss) per share | 0.0p | 0.0p | 0.3p | |||||
CONSOLIDATED BALANCE SHEET
as at 31st October 2012
| Unaudited 31st Oct 2012 | Unaudited 31st Oct 2011 | ||
| £ | £ | ||
| Fixed Assets | |||
| Intangible Assets | 1,955,071 | 701,052 | |
| Tangible Assets | 4,048 | 18,935 | |
| Investment | - | - | |
| 1,959,119 | 719,987 | ||
| Current assets | |||
| Debtors | 368,346 | 377,931 | |
| Cash at bank and in hand | 48,440 | 114,646 | |
| 416,786 | 492,577 | ||
| Creditors: amounts falling due within one year | (739,849) | (486,976) | |
| Net current assets/ liabilities | (323,063) | 5,601 | |
| Total assets less current liabilities | 1,636,056 | 725,588 | |
| Creditors: amounts falling due after more than one year | (956,348) | (115,774) | |
| 679,9080 | 609,814 | ||
| Capital and reserves | |||
| Called up share capital | 92,8450 | 92,845 | |
| Share Premium account | 776,054 | 776,054 | |
| Profit and loss account | (189,191) | (259,085) | |
| 679,708 | 609,814 | ||
The above figures have not been reviewed by the company's auditors LDP Luckmans.
The Directors of DXS International plc accept responsibility for this announcement.
Contact Information:
David Immelman
Unit 6a, Abbey Business Park,
Monks Walk, Farnham,
Surrey
GU9 8HT
Tel: 01252 719800
Website: www.dxs-systems.com
Corporate Adviser:
David Papworth
City & Merchant Limited,
Salisbury House,
29 Finsbury Circus,
London
EC2M 5QQ
Tel: 020 7101 7676