TIDMDXSP
DXS INTERNATIONAL PLC
INTERIM RESULTS
The Board of DXS International Plc ("DXS" or the "Company"), the ISDX
quoted developer and supplier of clinical decision support systems to
Clinical Commissioning Groups, GPs, doctors and healthcare professionals,
is pleased to announce its Interim Results for the 6 months ended 31
October 2015.
HIGHLIGHTS:
-- Revenues increased by 31% to GBP1.52m (2014 GBP1.16m)
-- Profit increased by GBP92,000 to GBP54,000 (2014 Loss GBP38,000)
-- Earnings per share increased to 0.2p (2014 Loss 0.1p) per share
-- Current run rate is GBP3.4m p.a. - an increase of 25% on year ending
April 2015
-- DXS has now signed 37 CCGs
The six months results reflect the team's efforts to produce positive
results and has seen the Company extending its reach into the UK primary
care market. We now have 37 CCG clients which is an increase of 8 from
the same period in 2014. We have a strong forward looking pipeline as we
continue with our program of aggressive sales and marketing to the
sector, underpinned by a high quality of service delivery.
The significant increase in staff and systems required to comply with
the NHS conditions of GPSoc has now tapered off and the Board expects
future cost increases will be required only for servicing increases in
client numbers and new projects. The Company's trading is cashflow
positive and comfortably within its facility limits.
As the NHS continues to seek ways of curbing ever increasing costs - for
example in 2017 it is estimated that an additional one million UK
residents will fall into the 70+ age category - DXS is strategically
positioned to capitalise on the emerging and innovative cost saving and
care improvement initiatives within the UK.
We look forward to reporting on our further progress in due course.
David Immelman
CEO
INTERIM RESULTS TO 31(st) OCTOBER 2015
CONSOLIDATED PROFIT AND LOSS ACCOUNT
for the six month period ended 31(st) October 2015
Restated
Unaudited Group Unaudited Audited
6 Months ended 6 Months ended Year to
31st Oct 2015 31st Oct 2014 30th April 2015
GBP GBP GBP
Turnover 1,521,081 1,164,476 2,723,762
Cost of Sales (222,008) (223,576) (461,608)
_________ _________ _________
1,299,073 940,900 2,262,154
Administrative
Expenses (1,140,076) (782,643) (2,149,982)
Goodwill written off nil nil
Selling Expenses (155,350) (150,468)
Provision for costs
of share option
scheme (27,000) (70,000) (108,580)
_________ _________ _________
Operating
Profit/(Loss) (23,353) (62,211) 3,592
Other interest
receivable and
similar income 1,184 1,073 2,170
Interest payable and
similar charges (16,378) (16,812) (35,477)
_________ _________ _________
Profit/(Loss) on
Ordinary Activities
before taxation (38,547) (77,950) (29,715)
Taxation on ordinary
activities 92,974 50,000 272,290
_________ _________ _________
Profit/ (Loss) for
the period 54,427 (27,950) 242,575
========= ========= =========
Profit/ (Loss) per
share
0.2p (0.1)p 0.7p
-- basic
0.1p (0.1)p 0.6p
-- fully diluted
========= ========= =========
Notes: the 2015 figures have been adjusted for the effect
of FRS 102 which will be applicable to the accounts
for the year ending 30th April 2016, and for the grant
of options to management which took place in the second
half of 2015. The balance sheet has also been restated
for these effects to allow for comparability.
All amounts relate to continuing activities.
All recognised gains and losses are included in the
profit and loss account.
.
CONSOLIDATED BALANCE SHEET
as at 31(st) October 2015
Restated
Unaudited Unaudited Restated
Group Group Audited Group
31st Oct 2015 31st Oct 201 30(th) April 2014
GBP GBP GBP
Fixed Assets
Intangible Assets 2,525,596 2,654,028 2,461,732
Tangible Assets 16,232 41,810 22,132
_________ _________ _________
2,541,828 2,695838 2,483,864
_________ _________ _________
Current assets
Debtors
-- Amounts due in less than one year 1,307,737 606,007 1,068,112
-- Amounts due in more than one year 80,254 89,251 85,842
Cash at bank and in hand 307,671 397,767 480,928
_________ _________ _________
1,695,662 1,093,025 1,634,882
Creditors: amounts falling due within one year (2,063,792) (1,468,275) (1,942,841)
_________ _________ _________
Net current liabilities (368,130) (375,250) (307,959)
_________ _________ _________
Total assets less current liabilities 2,173,698 2,320,588 2,175,905
Creditors: amounts falling due after more than one
year (158,494) (332,526) (242,128)
_________ _________ _________
2,015,204 1,988,062 1,933,777
========= ========= =========
Capital and reserves
Called up share capital 108,592 108,518 108,592
Share Premium account 1,591,709 1,584,047 1,591,709
Provision for costs of share option awards 135,580 70,000 108,580
Profit and loss account 179,323 225,497 124,896
_________ _________ _________
2,015,204 1,988,062 1,933,777
========= ========= =========
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 01252 719800
DXS International Plc
www.dxs-systems.com
Corporate Adviser
City & Merchant Ltd
David Papworth 020 7101 7676
MB Communications
Maxine Barnes 07860489571
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 which should significantly contribute towards the
NHS achieving its projected efficiency savings.
This announcement is distributed by NASDAQ OMX Corporate Solutions on
behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the information
contained therein.
Source: DXS International plc via Globenewswire
HUG#1883743
http://www.dxs-systems.com/
(END) Dow Jones Newswires
February 01, 2016 02:30 ET (07:30 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.