DXS International plc
Interim Accounts and Trading Update
The Directors of DXS International plc are pleased to announce the results of the Company for the six month period ending 31st October 2010.
While turnover for the six months to October 2011 was slightly down, by £19,000 compared to 2010, the Company still achieved an overall profit compared to a loss of £15,000 in the previous comparable period. The Company continues to develop its products and the administrative costs include an additional investment of £103,000 on R&D.
The UK government has made it abundantly clear that by 2015, £20 billion must be saved from the UK healthcare budget. It is acknowledged that one of the key ways of achieving this saving is by effectively implementing "evidence based medicine". Although evidence based medicine has been around for thirty years, it is not widely implemented. The main reasons are the difficulty clinicians have in accessing this at the right time which is relevant to the patient.
We have been "fine-tuning" DXS' products to ensure that we are able to provide CCG's (which are replacing traditional primary care trusts) with a far more effective way of delivering evidence based medicines to clinicians at the coalface.
The current emphasis is on treating patients with chronic disease. It is estimated that 40% of the UK population have one or more chronic diseases and that most of these are not compliant with their prescribed treatment plan. If clinician and patient comply with evidence based pathways we can guarantee the best possible known outcome for that patient and the most clinically effective and cost effective care for the CCG.
Our solution sits alongside clinical systems and automatically runs the personal care pathways for any patient, driven by the values and parameters in the patient's electronic record and automatically displays to the clinician the Recommended actions due today by world best evidence.
Follow-up alerts, reminders and action plans are automatically generated by the personal care pathway and sent to the patient's mobile phone, smartphone, tablet or TV set-top box.
While our half year results are on a par with the previous year, we are confident that our entry into the market of healthcare cost saving is going to see 2012 as our most promising year for significant growth and benefit to our shareholders.
Yours sincerely
David Immelman
CEO
DXS INTERNATIONAL PLC
Interim Results to 31st October 2011
CONSOLIDATED PROFIT AND LOSS ACCOUNT
For the six month period ended 31st October 2011
| Unaudited 6 Months ended 31 Oct 2011 | Unaudited 6 Months ended 31 Oct 2011 | Audited Year to 30 April 2011 | ||||||
| £ | £ | £ | ||||||
| Turnover | 770,468 | 789,267 | 1,656,757 | |||||
| Cost of Sales | (281,668) | (302,828) | (600,853) | |||||
| 488,800 | 486,439 | 1,055,904 | ||||||
| Administrative Expenses | (467,894) | (480,737) | (962,254) | |||||
| Goodwill written off | 14,253 | 14,253 | 28,505 | |||||
| Operating Profit/(loss) | 6,653 | (8,551) | 65,145 | |||||
| Other interest receivable and similar income | 788 | 544 | 1,274 | |||||
| Interest payable and similar charges | (5,721) | (6,927) | (12,031) | |||||
| Profit/ (Loss) on Ordinary Activities before taxation | 1,720 | (14,934) | 54,388 | |||||
| Tax on Profit on ordinary activities | 0 | 0 | 39,391 | |||||
| Profit/ (Loss) | 1,720 | (14,934) | 93,779 | |||||
| Profit/ (Loss) per share | 0.0p | (0.1)p | 0.4p | |||||
CONSOLIDATED BALANCE SHEET
As at 31st October 2011
| Unaudited 31 Oct 2011 | ||
| £ | ||
| Fixed Assets | 18,935 | |
| Intangible assets | 701,052 | |
| Investment | - | |
| 719,987 | ||
| Current assets | ||
| Debtors | 377,931 | |
| Cash at bank and in hand | 114,646 | |
| 492,577 | ||
| Creditors: amounts falling due within one year | (486,976) | |
| Net current assets | 5,601 | |
| Total assets less current liabilities | 725,588 | |
| Creditors: amounts falling due after more than one year | (115,774) | |
| 609,814 | ||
| Capital and reserves | ||
| Called up share capital | 92,845 | |
| Share Premium account | 776,054 | |
| Profit and loss account | (259,085) | |
| 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