Half-year report InPublic Half-year report



DXS International plc ("DXS", the "Company"), the digital clinical decision support company, today announces its unaudited interim results for the 6 months ended 31 October 2019.

Financial Highlights:

  • Turnover for the period held steady at £1,650,000;
  • The Company continued its investment into research and development with £600,000 invested in the period;
  • EBIT is up from (£6,003) to £124,300 for the period;
  • Net Profit after tax at £202,000 is up from £70,000 for the same period in the previous year;

Operational Highlights:

DXS achieved a conditional NHS Digital Care Services (GP IT Futures) contract. The award is subject to final assurance accreditation due to be achieved by 15th December 2019. The contract award ensured that our current solution will once again be centrally funded by the NHS. This is the new NHS centrally funded framework that funds digital technology solutions for the UK NHS Primary Care sector.

The Company is also at an advanced stage of achieving central funding for each of its newly completed solutions under the new GPIT Futures framework. Our new, advanced digital clinical decision support solution pilots continue to provide valuable and positive end-user feedback.


  • The imminent commencement of GPIT Futures in early 2020 is an exciting milestone for DXS. After an arduous 12-month-long tender process, DXS has again been awarded an NHS contract. This enables Primary Care NHS organisations such as GP practices to procure DXS solutions paid for from a central fund.
  • Caps have been removed from pricing which have been a limiting factor on our current revenue under GPSoC2, the current framework agreement. Revenues under the new GP IT Futures Framework, which begins in January 2020, are expected to increase.
  • Our new suite of solutions, into which we have invested more than £4 million are aligned with the NHS’ long term plan and promise to deliver major benefits to patients, clinicians and the NHS. Our new solutions are focused on helping clinicians manage long-term conditions with the initial focus on the UK’s 10 million hypertensive patients.

David Immelman, Chief Executive Officer, commented:

"I am very pleased with the progress achieved in the first half of 2019. Our improved overall results were achieved through a process of efficiency improvements and consolidation. Our recent GPIT Futures contract award, together with the launch of our three new products and their associated revenue potential, bode well for 2020. Supported by an amazing team of motivated capable people we believe that the company is heading for significant achievements”.



for the six-month period ended 31 October 2019

 Unaudited Group 6 Months ended
31 Oct 2019
6 Months

31 Oct 2018

Year to
30 April 2019
  £  £  £
Turnover1,664,957 1,692,451 3,346,343
Cost of Sales(169,081) (193,244) (385,426)
 _________ _________ _________
Gross Profit1,495,876 1,499,207 2,960,917
Administrative Costs 1,113,939 (1,267,734) (2,568,074)
Depreciation and Amortisation(257,637) (237,476) (530,292)
 _________ _________ _________
Operating Profit/(Loss)124,300 (6,003) (137,449)
Interest received and similar income4,397 219 221
Interest payable and similar charges(38,873) (28,896) (62,387)
 _________ _________ _________
Profit / (Loss) on ordinary activities before taxation 89,824 (34,680) (199,615)
Tax on profit on ordinary activities112,194 104,963 284,711
 _________ _________ _________
Profit / (Loss) for the period202,018 70,283 85,096
 ========= ========= =========
Profit/ (Loss) per share     
 -  basic0.6p 0.2p 0.2p
 -  fully diluted0.5p 0.1p 0.2p
 ========= ========= =========


as at 31 October 2019

31 Oct 2019
31 Oct 2018
30 April 2019
  £ £ £
Fixed Assets   
Intangible Assets3,855,0253,372,7623,673,141
Tangible Assets2,1963,5803,060
Current assets   
 -  Amounts due in less than one year360,8611,326,2161,688,720
 -  Amounts due in more than one year-84,500-
Cash at bank and in hand134,24978,00055,242
Creditors: amounts falling due within one year766,043(1,232,694)1,518,021
Net current (liabilities)/assets(270,933)256,022225,943
Total assets less current liabilities3,586,2883,632,3643,902,142
Creditors: amounts falling due after more than one year(458,071)(467,098)(464,951)
Accruals and Deferred income(642,619)(936,555)(1,193,611)
Capital and reserves   
Called up share capital117,419115,988116,099
Share Premium account1,790,9791,752,3551,752,299
Provision for costs of share option awards162,580162,580162,580
Retained earnings414,620197,788212,602
Shareholder Funds 2,485,5982,228,7112,243,580

Statement of Cash Flows

for the six-month period ended 31 October 2019

 Unaudited  6 Months ended
31 Oct 2019
6 Months ended
31 Oct 2018
  £  £
Cash flow from operating activities259,430 852,681
Interest paid(38,873) (62,387)
Interest Received4,397 221
Taxation received257,194 179,711
 _________ _________
Net cash flow from operating activities482,148 970,226
Cash flow from investing activities_________ _________
Payments to acquire intangible fixed assets(438,657) (1,143,900)
Payments to acquire tangible fixed assets- (283)
 _________ _________
 (438,657) (1,144,183)
 _________ _________
External Funding   
Proceeds on issue of shares40,000 118,701
 _________ _________
Cash Flow from investing activities   
 _________ _________
Repayment of long term loans(4,484) (51,670)
Advance of long term loans- 22,156
 _________ _________
 (4,484) (29,514)
 _________ _________
Net increase (decrease) in cash and cash equivalents79,007 (84,770)
Cash and cash equivalents at 30 April 201955.242 140,012
 _________ _________
Cash and cash equivalents at 31 October 2019134,249 55,242
 _________ _________
Cash and cash equivalents consist of:   
Cash at bank and in hand134,249 55,242
 _________ _________

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


David Immelman   (Chief Executive)
DXS International plc
01252 719800

Corporate Advisor

City & Merchant
David Papworth

020 7101 7676


Corporate Broker

Hybridan LLP
Claire Louise Noyce

020 3764 2341


Notes to Editors

About DXS:

DXS International presents up to date treatment guidelines and recommendations, from Clinical Commissioning Groups and other trusted NHS sources, to doctors, nurses and pharmacists in their workflow and during the patient consultation. This effective clinical decision support ultimately translates to improved healthcare outcomes delivered more cost effectively and which should significantly contribute towards the NHS achieving its projected efficiency savings.