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 2013.
The half year to October shows the anticipated growth in DXS's revenues of 21% over the revenue in the comparable period in 2012. This is due to the new revenue stream from CCG's (Clinical Commissioning Groups) investing in the DXS solution as 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 effectively its recommended treatment guidelines, referral forms and guides, patient and professional education, as well as provide a directory of qualified service providers and prescribing guides to its clinicians during a patient consultation.
DXS has thus far signed 17 CCGs to the basic care pathway service and DXS aims to increase this to 20 by April 2014. Taking into account the effect of the new CCG contracts DXS's current level of monthly revenue generation is expected to continue to grow. 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.
We have already increased resources in sales, marketing, support and training in anticipation of our new client base.
Yours sincerely
David Immelman
CEO
INTERIM RESULTS TO 31st OCTOBER 2013
CONSOLIDATED PROFIT AND LOSS ACCOUNT
for the six month period ended 31st October 2013
| Unaudited 6 Months ended 31st Oct 2013 | Unaudited 6 Months ended 31st Oct 2012 | Audited Year to 30th April 2013 | ||||||
| £ | £ | £ | ||||||
| Turnover | 810,580 | 668,009 | 1,436,317 | |||||
| Cost of Sales | (223,979) | (163,606) | (257,670) | |||||
| 586,601 | 504,403 | 1,178,647 | ||||||
| Administrative Expenses | (521,583) | (484,143) | (967,165) | |||||
| Goodwill written off | (14,253) | (14,253) | (28,505) | |||||
| Operating Profit/(loss) | 50,765 | 6,007 | 182,977 | |||||
| Other interest receivable and similar income | 958 | 871 | 1,772 | |||||
| Interest payable and similar charges | (28,333) | (4,855) | (8,875) | |||||
| Profit/ (Loss) on Ordinary Activities before taxation | 23,390 | 2.023 | 175,874 | |||||
| Tax on Profit on ordinary activities | 50,000 | 0 | 49,675 | |||||
| Profit/ (Loss) for the period | 73,390 | 2,023 | 225,549 | |||||
| Profit/ (Loss) per share | 0.2p | 0.0p | 0.8p | |||||
CONSOLIDATED BALANCE SHEET
as at 31st October 2013
| Unaudited 31st Oct 2013 | Unaudited 31st Oct 2012 | |||
| £ | £ | |||
| Fixed Assets | ||||
| Intangible Assets | 2,306,456 | 1,955,071 | ||
| Tangible Assets | 20,419 | 4,048 | ||
| 2,326,875 | 1.959,119 | |||
| Current assets | ||||
| Debtors | 702,882 | 368,346 | ||
| Cash at bank and in hand | 135,168 | 48,440 | ||
| 838,050 | 416,786 | |||
| Creditors: amounts falling due within one year | (1,239,885) | (739,849) | ||
| Net current assets/ liabilities | (401,835) | (323,063) | ||
| Total assets less current liabilities | 1,925,040 | 1,636,056 | ||
| Creditors: amounts falling due after more than one year | (513,416) | (956,348) | ||
| 1,411,624 | 679,708 | |||
| Capital and reserves | ||||
| Called up share capital | 107,695 | 92,845 | ||
| Share Premium account | 1,196,204 | 776,054 | ||
| Profit and loss account | 107,725 | (189,191) | ||
| 1,411,624 | 679,708 | |||
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
Wrecclesham House,
Wrecclesham Road,
Farnham,
Surrey
GU10 4PS
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