DXS International plc : Interim Management Statement Thomson Reuters

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 2014.

The six months to October 2014 reflects the significant investment made by DXS in GPSoC and the continuing attractiveness of the Company's products for the GP market place.  Investment in new products, policies and people has resulted in a substantial increase in the Company's overhead base.  While the revenue from this investment will lag the costs, the Company has already seen a sufficient increase in sales such that the current period has achieved break even.

In November 2014, we were delighted to announce that we had been selected as one of only 30 companies and were awarded a further contract in respect of GPSoC Lot 2 to provide additional GP IT services.  The Government's Health & Social Care Information Centre has now published its Lot 2 Catalogue and DXS has an online entry detailing its offering. 

The expansion of the cost base is largely complete and efforts are now focussed on improving the Company's top line.  Reported revenues have increased by 44% over the comparable period of 2013 and DXS has thus far signed 29 CCGs (approximately 1,350 GP practices) to the basic care pathway service. DXS aims to increase this to 32 by April 2015

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.

Yours sincerely

David Immelman
CEO

INTERIM RESULTS TO 31st OCTOBER 2014

CONSOLIDATED PROFIT AND LOSS ACCOUNT

for the six month period ended 31st October 2014

  Unaudited
6 Months ended
31st Oct 2014
  Unaudited
6 Months ended
31st Oct 2013
  Audited
Year to
30th April 2014
    £     £     £
Turnover 1,164,476   810,580   1,815,795
Cost of Sales (223,576)   (223,979)   (407,675)
                 
  940,900   586,601   1,408,120
Administrative Expenses (782,643)   (521,583)   (982,991)
Goodwill written off (14,252)   (14,253)   (28,505)
Selling Expenses (150,468)   -   (220,490)
GPSoc Costs -   -   (59,532)
                 
Operating Profit/(loss) (6,463)   50,765   116,602
Other interest receivable and similar income 1,073   958   1,946
Interest payable and similar charges (16,812)   (28,333)   (41,519)
                 
Profit/ (Loss) on Ordinary Activities before taxation (22,202)   23,390   77,029
Tax on Profit on ordinary activities 50,000   50,000   156,335
                 
Profit/ (Loss) for the period 27,798   73,390   233,364
                 
Profit/ (Loss) per share 0.2p   0.0p   0.8p
                 

CONSOLIDATED BALANCE SHEET

as at 31st October 2014

  Unaudited

31st Oct 2014
Unaudited

31st Oct 2013
    £   £
Fixed Assets    
Intangible Assets 2,654,028 2,306,456
Tangible Assets 41,810 20,419
         
  2,695,838 2,326,875
         
Current assets    
Debtors 695,258 702,882
Cash at bank and in hand 397,767 135,168
         
  1,093,025 838,050
Creditors: amounts falling due within one year (1,468,275) (1,239,885)
         
Net current assets/ liabilities (375,250) (401,835)
         
Total assets less current liabilities 2,320,588 1,925,040
Creditors: amounts falling due after more than one year (332,526) (513,416)
         
  1,988,062 1,411,624
Capital and reserves    
Called up share capital 108,518 107,695
Share Premium account 1,584,047 1,196,204
Profit and loss account 295,497 107,725
         
  1,988,062 1,411,624
         

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.

Contacts:

David Immelman, CE0

DXS International plc

www.dxs-systems.com

 
01252 719800
City & Merchant Ltd (Corporate Adviser)
David Papworth
020 7101 7676
 

MB Communications (Financial PR)
 
Maxine Barnes 07860 489571

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 which should significantly contribute towards the NHS achieving its projected efficiency savings.




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Source: DXS International plc via Globenewswire

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