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DJ DHAIS Plc Final results to 30 June 2015

 
TIDMDHAP 
 
Final results to 30 June 2015 
                                DHAIS Plc ("DHAIS" or the "Company") 
 
                            Final Results for the year ended 30 June 2015 
 
Chairman's Statement 
 
I  am  pleased  to report on our fourteenth year of trading and our seventh year as an  ISDX  Growth 
Market listed company. 
 
Results 
 
The  group's  business  and  activities have progressed with group  turnover  increasing  to  GBP10.6m 
compared  to  turnover  of  GBP9.7m  for the previous year,  however  an  increase  in  marketing  and 
infrastructure  costs  has resulted in the group incurring a loss of GBP83k compared to  a  profit  of 
GBP161k for the year to 30 June 2014. 
 
Turnover  was expected to have increased by more than the 10% actually achieved,  and infrastructure 
and  related costs had been geared accordingly.  This investment,  however,  will provide a  sounder 
foundation for growth in the future. 
 
At the EBITDA level, the group continued to be cash generative to the extent of GBP195k in the year to 
30 June 2015. The directors are therefore satisfied with the performance of the business. 
 
The  group  activities comprise of the parent company's marketing lead generation business based  in 
London and its subsidiary, Hearing Health and Mobility Ltd ("HHML") whose retail activities relating 
to  the  sale of hearing aids and mobility products are spread across the United Kingdom,  with  its 
central offices based in Cardiff. 
 
HHML  operates 15 'Hearing and Mobility' stores,  most of them were previously Mobility Centres with 
lots  of repeat customers and many years of goodwill within their respective communities.  Sales and 
service are provided inside the group's stores and in the customers' own homes. The stores are based 
predominantly in the South and in the Midlands. 
 
HHML  is  a leading 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. 
 
The parent company's marketing lead generation activity, Dhais Marketing, was established in 2001 as 
an expert Grey Market national advertiser.  It has helped retailers and manufacturers promote  goods 
and  services  throughout  the United Kingdom,  to mainly people over 50 years of  age.  This  is  a 
constantly growing sector of the population.  Dhais Marketing employs creative, analytical and media 
experts  with  years  of relevant experience,  particularly  in  national advertising,  and  has  an 
established client base. 
 
With  a  view to bolstering shareholder value,  the directors of the group continue to focus on  and 
grow  HHML's  retail  business.  As a result,  sales of hearing aids in the year  to  30  June  2015 
increased  by  15% compared to the previous year and sales of mobility products were up 12% on  last 
year. 
 
The  group's  activities  are  principally  funded by an interest  free  loan  from  a  hearing  aid 
manufacturer, this funding is reflective of the confidence shown in Dhais Plc by its suppliers. 
 
Outlook 
 
The group is amongst the leaders in its sectors,  its range of products and services is  continually 
improving and expanding within the growing demographics of the country. 
 
The future strategy is to build on the group's robust business model of advertising, retail sales of 
hearing aids and mobility products in store and in customers' homes across the United Kingdom. 
 
Mark Moss 
Chairman 
25 November 2015 
 
 
Enquiries: 
 
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DHAIS Plc                                  029 2066 6888 
Amin Kiddy, Finance Director 
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ISDX Growth Market Advisor:                020 7251 3762 
Alfred Henry Corporate Finance Ltd 
www.alfredhenry.com 
Jon Isaacs/Nick Michaels 
=--------------------------------------------------------------------------- 
 
 
The Directors accept responsibility for this announcement. 
 
Statutory Information 
 
The  financial information set out below does not constitute the Group's statutory accounts for  the 
year ended 30 June 2015 but is derived from those accounts. 
 
The  financial  information  has  been extracted from the statutory accounts of  DHAIS  Plc  and  is 
presented  using the same accounting policies,  which have not yet been filed with the Registrar  of 
companies, but on which the auditors,  PricewaterhouseCoopers LLP,  gave an unqualified report on 25 
November 2015. 
 
The  Annual  Report  of  DHAIS Plc for year ended 30 June 2015 is available upon  request  from  the 
Company's registered office at 61 Cowbridge Road East, Cardiff, CF11 9AE. 
 
 
Consolidated Profit and Loss Account 
 
for the Year Ended 30 June 2015 
 
                                                                             2015              2014 
                                                                                GBP                 GBP 
Turnover                                                               10,578,102         9,650,222 
Cost of sales                                                          (4,682,154)       (4,388,256) 
=--------------------------------------------------------------------------------------------------- 
Gross profit                                                            5,895,948         5,261,966 
Operating expenses                                                     (6,124,173)       (5,204,952) 
=--------------------------------------------------------------------------------------------------- 
                                                                         (228,225)           57,014 
Other operating income                                                    146,650           105,254 
=--------------------------------------------------------------------------------------------------- 
Earnings before interest, tax and depreciation (EBITDA)                   195,457           368,456 
Depreciation and amortisation                                            (277,032)         (206,188) 
=--------------------------------------------------------------------------------------------------- 
 
Operating (loss)/profit                                                   (81,575)          162,268 
Interest payable and similar charges                                       (1,401)           (1,011) 
=--------------------------------------------------------------------------------------------------- 
(Loss)/profit on ordinary activities before taxation                      (82,976)          161,257 
Tax on (loss)/profit on ordinary activities                                     -                 - 
=--------------------------------------------------------------------------------------------------- 
(Loss)/profit for the financial year                                      (82,976)          161,257 
=--------------------------------------------------------------------------------------------------- 
 
(Loss)/earnings per share expressed in pence per share: 
Basic                                                                       (0.13)             0.26 
Diluted                                                                     (0.13)             0.26 
=--------------------------------------------------------------------------------------------------- 
 
 
None  of  the group's activities were acquired or discontinued during the current year  or  previous 
year. 
 
The  group  has  no recognised gains or losses other than the (loss) for the current  year  and  the 
profit for the previous year. 
 
There  is  no  difference between the (loss)/profit on ordinary activities before taxation  and  the 
(loss)/profit for the year above and their historical cost equivalents. 
 
The  comparatives  for distribution costs and administrative costs have been restated  (see note 1 - 
Accounting Policies). 
 
 
Consolidated Balance Sheet as at 
 
30 June 2015 
 
                                                      2015                          2014 
                                                GBP              GBP              GBP              GBP 
FIXED ASSETS 
Intangible assets                                           2,260,937                     2,190,050 
Tangible assets                                               204,673                       144,466 
Investments                                                         -                       260,759 
                                                        --------------                -------------- 
 
                                                            2,465,610                     2,595,275 
 
CURRENT ASSETS 
Stocks                                         649,463                       543,174 
Debtors                                        884,096                       703,981 
Cash at bank and in hand                       274,939                       316,889 
                                         --------------                -------------- 
 
                                             1,808,498                     1,564,044 
 
CREDITORS 
Amounts falling due within one year         (2,250,237)                   (1,877,472) 
                                         --------------                -------------- 
 
NET CURRENT LIABILITIES                                      (441,739)                     (313,428) 
                                                        --------------                -------------- 
 
TOTAL ASSETS LESS CURRENT LIABILITIES                       2,023,871                     2,281,847 
 
 
CREDITORS 
Amounts falling due after more than one 
year                                                       (2,047,494)                   (2,222,494) 
                                                        --------------                -------------- 
 
NET (LIABILITIES)/ASSETS                                      (23,623)                       59,353 
                                                        --------------                -------------- 

(MORE TO FOLLOW) Dow Jones Newswires

November 25, 2015 11:00 ET (16:00 GMT)

DJ DHAIS Plc Final results to 30 June 2015 -3-

Adjusted earnings                                           (82,976)     62,395,701           (0.13) 
                                                      --------------  --------------  -------------- 
                                                      --------------  --------------  -------------- 
 
 
                                                                           2014 
                                                                         Weighted 
                                                                          average 
                                                                          number         Per-share 
                                                         Earnings           of            amount 
                                                             GBP            shares           pence 
Basic EPS 
Earnings attributable to ordinary shareholders              161,257      62,364,618            0.26 
Effect of dilutive securities                                     -               -               - 
                                                      --------------  --------------  -------------- 
 
 
Diluted EPS 
Adjusted earnings                                           161,257      62,364,618            0.26 
                                                      --------------  --------------  -------------- 
                                                      --------------  --------------  -------------- 
 
 
DHAIS plc 
 

(END) Dow Jones Newswires

November 25, 2015 11:00 ET (16:00 GMT)