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DJ DHAIS Plc Interim results for the six month period ended 31 December 2014

 
TIDMDHAP 
 
Interim results for the six month period ended 31 December 2014 
DHAIS PLC 
Interim results for the six month period ended 31 December 2014 
 
Chairman's statement 
 
I am pleased to report that we continue to make progress. 
 
The  results for the first 6 month period to 31 December 2014 show an increase in Group turnover of 8.5%  to 
GBP  5.1 million with a profit of GBP 75k compared to turnover of GBP 4.7 million for the equivalent 6 month 
period to 31 December 2013 in which we made a profit of GBP 74k. 
 
The  Group activities continue to comprise of the parent company's marketing activities based in London  and 
its  subsidiary, Hearing Health and Mobility Ltd ("HHML")'s retail activities of Hearing and Mobility stores 
which are spread across the UK, with its central offices based in Cardiff. 
 
HHML  operates 16 Hearing and Mobility stores and has increasing numbers of new customers to supplement  the 
established customer base with lots of inherent goodwill in respective communities. 
 
Sales and services are provided inside our stores and in customers' own homes.  Both routes to market are as 
important as each other, to us and to our customers.  The stores which are based predominantly in the  South 
and  in  the  Midlands  are supplemented with associated stores and representation in  Northern  towns.   We 
therefore have national coverage between our own employees and associates. 
 
HHML  is an accredited Motability dealer, participating in the national scheme which helps people get mobile 
by exchanging their mobility allowance to lease a scooter or powered wheelchair. 
 
In the same way that opticians do not dispense spectacles to the blind, hearing aid dispensers do not supply 
hearing aids to the deaf.  Mobility aids are supplied as aids to mobility to those who need assistance,  and 
that is the need of the growing over 55's 'grey' market. 
 
The Directors of the Group are content that we are in the 'right market space' and 'at the right time'. 
 
Our  existing  customers  grow older and seek more of our products.  We have the exceptional  capability  of 
nationally stimulating our market with effective press advertising and also by generating lots of  enquiries 
from our stores. 
 
The  Group's  mission includes having the best products, the best service, the best marketing and  the  best 
staff, both customer facing and back office. 
 
The  Group's activities are principally funded by an interest free loan from a hearing aid manufacturer, the 
first  repayment  instalment of which has been made. This funding is reflective of the confidence  shown  in 
Dhais plc by its suppliers. 
 
Outlook 
 
The  group  is  amongst  the leaders in its sectors and its range of products and  services  is  continually 
improving  and expanding within the growing demographics of the country.  The prospects for business  growth 
are therefore substantial, and they blend well with the Government's overall economic policies in the United 
Kingdom. 
 
The future strategy is to build on the Group's robust business model of advertising, retail sales of hearing 
aids  in  store  and in customers' homes and by increasing the number of mobility store outlets  to  give  a 
greater geographic presence across the United Kingdom. 
 
 
Mark Moss 
Mark@mmoss.co.uk 
+44(0)7727 648664 
25 March 2015 
The Directors of the Issuer accept responsibility for this announcement. 
Enquiries: 
Amin Kiddy 
Director, DHAIS Plc 
Tel:  +44 (0) 2920 666888 
 
Jon Isaacs 
Alfred Henry Corporate Finance Limited 
Tel: +44 (0) 20 7251 3762 
 
Consolidated group profit and loss account 
for the six month period ended 31 December 2014 
 
                                                    6 months to         6 months to            Year to 
                                                       31.12.14            31.12.13           30.06.14 
                                                            GBP                 GBP                GBP 
 
 Turnover                                             5,129,585           4,717,354          9,650,222 
 
 Cost of sales                                       (2,057,733)         (1,930,610)        (4,388,256) 
 
 Gross profit                                         3,071,852           2,786,744          5,261,966 
 
 Distribution costs                                  (2,631,066)         (2,370,922)        (4,424,009) 
 
 Administrative expenses                               (453,179)           (392,130)          (780,943) 
 
                                                        (12,393)             23,692             57,014 
 
 Other operating income                                  87,042              51,274            105,254 
 
 
 Operating profit                                        74,649              74,966             162,268 
 
 
 Interest receivable and similar income                      15                  40                  50 
 
 
 
                                                         74,664              75,006             162,318 
 
 Interest payable and similar charges                         -                (750)             (1,061) 
 
 Profit on ordinary activities before taxation           74,664              74,256             161,257 
 
 Tax on profit on ordinary activities                         -                   -                   - 
 
 Profit on ordinary activities after taxation            74,664              74,256             161,257 
 
 
 Profit retained for the period                          74,664              74,256             161,257 
 
 Retained deficit brought forward                    (3,346,857)         (3,508,114)         (3,508,114) 
 
 Retained deficit carried forward                    (3,272,193)         (3,433,858)         (3,346,857) 
 
 Profit / (Loss) per share 
 Basic/diluted                                         GBP 0.24            GBP 0.24            GBP 0.26 
 
CONTINUING OPERATIONS 
 
Turnover and operating profit derive wholly from continuing operations. 
 
TOTAL RECOGNISED GAINS AND LOSSES 
 
The group has no recognised gains or losses other than the profits or losses above and therefore no separate 
statement of total recognised gains or losses has been presented. 
 
 
Group balance sheet 
As at 31 December 2014 
 
                                               31.12.14                   31.12.13                   30.06.14 
                                    GBP            GBP            GBP           GBP           GBP           GBP 
 Fixed assets 
 
 Tangible assets                                196,363                      139,162                     144,466 
 Intangible assets                              2,111,909                    2,241,095                   2,190,050 
 Fixed asset investment                         260,759                      260,759                     260,759 
 
                                                2,569,031                    2,641,016                   2,595,275 
 
 Current assets 
 
 Stock                           666,400                       521,530                     543,174 
 Debtors                         403,223                       260,723                     703,981 
 Cash at bank and in hand        289,553                       365,211                     316,889 
 
                                 1,359,176                     1,147,464                   1,564,044 
 
 Creditors: amounts falling 
 due within one year 
                                 (1,571,696)                   (1,355,128)                 (1,877,472) 
 
 Net current assets /                           (212,520)                    (207,664)                   (313,428) 
 (liabilities) 
 
 Total assets less current 
 liabilities                                    2,356,511                    2,433,352                   2,281,847 
 
 Creditors: amounts falling 
 due after more than one year 
                                                (2,222,494)                  (2,461,000)                 (2,222,494) 
 
 Total assets less total 
 liabilities                                    134,017                      (27,648)                    59,353 
 
 
 Capital and reserves 
 
 Called up share capital                        62,396                       62,396                      62,396 
 Share premium                                  3,328,604                    3,328,604                   3,328,604 
 Other reserves                                 15,210                       15,210                      15,210 
 Profit and loss account                        (3,272,193)                  (3,433,858)                 (3,346,857) 
 
 Shareholders' funds                            134,017                      (27,648)                    59,353 
 
 
Group cash flow statement 
for the six month period ended 31 December 2014 
 
 
 
                                                   6 months to       6 months to          Year to 
                                                   31.12.14          31.12.13             30.06.14 
                                                   GBP               GBP                  GBP 
 
 
 Net cash inflow from operating activities         151,654           100,686              213,735 
 
 Returns on investments and servicing of finance   15                 (710)                 (1,011) 
 
 Taxation                                          -                  -                    - 
 
 Capital expenditure and  financial investment     (4,005)            (333,287)             (430,851) 
 
                                                   147,664            (233,311)             (218,127) 
 
 Financing                                         (175,000)         190,000              126,494 
 
 (Decrease) / Increase  in cash in the period      (27,336)           (43,311)              (91,633) 
 
 
 
Notes to interim group results 
for the six month period ended 31 December 2014 
 
 
1.      The  financial information set out above does not constitute statutory accounts for the  purpose  of 

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DJ DHAIS Plc Interim results for the six month -2-

        Section  435  of  the  Companies Act 2006.  The financial information has been  extracted  from  the 
        management accounts of DHAIS plc and its subsidiary companies Hearing Health & Mobility Limited  and 
        Owen  Hearing  Limited  and is presented using the same accounting policies as  those  used  in  the 
        statutory  accounts of the respective companies. The accounts for the year ended 30 June  2014  have 
        been extracted from the statutory accounts filed with the Registrar of Companies; the report of  the 
        auditors on those accounts was unqualified. 
 
 
2.      Profit per share 
 
        Basic  profit per share is calculated by dividing the earnings attributable to ordinary shareholders 
        by  the  weighted average number of ordinary shares during the period.  The weighted average  number 
        of  equity  shares in issue during the period was 31,454,271 (31.12.13 - 31,423,188) and the  profit 
        after tax was GBP 74,664 (6 month period to 31.12.13 - GBP 74,256). 
 
 
 
 
 
 
DHAIS plc 
 

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March 25, 2015 11:06 ET (15:06 GMT)