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DJ DXS International plc Dxs International Plc : Half-yearly Report

 
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)