DXS INTERNATIONAL PLC

HALF YEAR REPORT


DXS International plc (“DXS” or “the Company”), the NEX Growth Market quoted healthcare information and clinical decision support systems provider today announces its half year report for the 6 month period ending 31 October 2018.

As stated at the AGM in 2018, DXS has continued to build a solid foundation, following previous NHS budget cuts and uncertainty, which has seen the following achievements:

  • Released four new versions of our mainstay product - DXS Point-of-Care;

  • Implemented Phase 1 of our new template version of DXS Point-of-Care;

  • Launched Phase 1 of the DXS MyVytalCare app and in piloting stage - The DXS Call and Recall app, which automatically analyses a patient’s record and then communicates with the patient via the appregarding required health checks, medicine compliance, signposting to preferred services etc;
  • Launched Phase 1 of DXS ExpertCare and in piloting stage - The DXS ExpertCare tool that reads a patient’s record and then makes medicine treatment recommendations to a prescriber ensuring that a patient is compliant with the best evidence treatment.

Considering that worldwide healthcare systems are in crisis with ageing populations, clinician shortages, and cash crises, we are confident that our forward planning and preparation during the past 7 years will see significant growth in revenue and profitability over the next four to five years which should result in major shareholder value.

During this half year of consolidation, our turnover grew by 5% and profits compared to the same period for the previous year grew from £27,000 to £70,000, even though we continued to invest heavily in R&D.

Although behind schedule, the new GPSoC 3 tender is underway and is expected to be completed within 2019. As stated previously, the NHS intend addressing the shortcomings of GPSoC 2 as well as extending the funding across all care, which will open new opportunities for DXS.

With much of our planned strategy in place for renewed growth, we are intent on building shareholder value by significantly increasing our revenue over the next 4-5 years and targeting an annual profit of £7 million by year 5.

In addition, our new products create the opportunity to expand into international markets and we currently have interest in China, India and South Africa. When one considers that China has 330 million people with hypertension with a relatively small number controlled, the opportunity for DXS Hypertension ExpertCare helping to improve control becomes evident.

The Board thanks you for your continued support and invites you to contact our CEO should you wish to discuss anything.  We urge you to ensure that you are included on our circulation list of communications and to do so please contact our office on +44 (0)1252 719800 or send an email to info@dxs-systems.co.uk.


David Immelman
CEO


INTERIM RESULTS to 31 OCTOBER 2018

CONSOLIDATED INCOME STATEMENT

for the six month period ended 31 October 2018

 Unaudited Group 6 Months ended
31 Oct 2018
 Restated
Unaudited
6 Months ended
31 Oct 2017
  

Audited
Year to
30 April 2018
  £  £  £
Turnover1,692,451 1,608,023 3,406,976
Cost of Sales(193,244) (225,083) (470,824)
 _________ _________ _________
Gross Profit1,499,207 1,382,940 2,936,152
Administrative Costs (1,267,734) (1,259,542) (2,506,575)
Depreciation and Amortisation(237,476) (211,612) (445,267)
 _________ _________ _________
Operating Profit/(Loss)(6,003) (88,214) (15,690)
Other interest receivable and similar income219 1,431 9,329
Interest payable and similar charges(28,896) (5,497) (39,791)
 _________ _________ _________
Profit / (Loss) on ordinary activities before taxation (34,680) (92,280) (46,152)
Taxation on ordinary activities104,963 119,980 194,973
 _________ _________ _________
Profit / (Loss) for the period70,283 27,700 148,821
 ========= ========= =========
Profit/ (Loss) per share     
  • basic
0.2p 0.0p 0.4p
  • fully diluted
0.1p 0.3p 0.3p
 ========= ========= =========
         

STATEMENT of FINANCIAL POSITION

as at 31 October 2018

 
Unaudited
Group
31 Oct 2018
Restated
Unaudited
Group
31 Oct 2017




Audited Group 30 April 2018
  £ £ £
Fixed Assets   
Intangible Assets3,372,7622,646,2903,057,575
Tangible Assets3,5808484,735
 _________ _________ _________ 
 3,376,3422,647,1383,062,310
 _________ _________ _________ 
Current assets   
Debtors    
  • Amounts due in less than one year
1,326,2161,551,3591,484,870
  • Amounts due in more than one year
84,50092,12758,500
Cash at bank and in hand78,000135,602140,012
 _________ _________ _________ 
 1,488,7161,779,0881,683,382
Creditors: amounts falling due within one year(1,232,694)(1,364,634)(997,441)
 _________ _________ _________ 
Net current liabilities256,022414,454685,941
 _________ _________ _________ 
    
Total assets less current liabilities3,632,3643,061,5923,748,251
    
Creditors: amounts falling due after more than one year(467,098)(194,253)(539,251)
Accruals and Deferred income(936,555)(948,677)(1,169,217)
 ___________________________
 2,228,7111,918,6622,039,783
 ===========================
Capital and reserves   
Called up share capital115,988110,174110,174
Share Premium account1,752,3551,639,5231,639,523
Provision for costs of share option awards162,580162,580162,580
Retained earnings197,7886,385127,506
 ___________________________
 2,228,7111,918,6622,039,783
 ===========================
    
       

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, CE001252 719800
DXS International plc 
www.dxs-systems.com 
  
Corporate Adviser020 7101 7676 
City & Merchant Ltd 
David Papworth 
020 7101 7676 
  

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