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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| DXS International Plc | AQSE:DXSP | Aquis Stock Exchange | Ordinary Share | GB00B2Q6HZ92 |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 1.35 | 1.00 | 2.20 | 1.60 | 1.35 | 1.35 | 0.00 | 15:29:02 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
From May 2021 to May 2024
TIDMDXSP
DXS INTERNATIONAL PLC
(AQSE: DXSP)
HALF YEAR RESULTS
DXS International plc ("DXS" or the "Company"), the digital clinical decision support company, is pleased to provide shareholders with its unaudited interim results for the half year ending 31 October 2021.
Financial Highlights
Hot Features
Premium
-- Revenue for the six-month period has held well at GBP1,618,439 (2020:
GBP1,716,424).
-- In line with projections, profit before tax is GBP21,427 (2020:
GBP150,556) and profit after tax GBP137,352 (2020: GBP224,825).
-- Cash on hand GBP543,000.
Results overall are in line with projections for the revised strategy to capitalise on opportunities resulting from COVID including increased investment in order to scale solutions aimed at managing significant backlogs in "healthcare business as usual" and the increased clinician shortage crisis. DXS has been investing for growth over the past six months and is expecting to have a stronger second half to the business, as it traditionally does and did in the financial year to 30 April 2021.
Operational Highlights
-- CompleteCare templates and toolkits well received in early pilots,
providing much needed solutions in managing healthcare backlogs in areas
such as medicines monitoring, cancer care, mental health and learning
disability.
-- ExpertCare hypertension pilots completed, confirming that only 50% of the
pilot patients are being managed in compliance with "Gold Standard"
treatment guidelines and that by using ExpertCare this immediately
improved to 75%.
-- Development of our new cloud based DXS Point of Care solution is
progressing well.
Reorganisation of the NHS Management Structure
The current 106 Clinical Commissioning Groups responsible for the planning and commissioning of healthcare in their respective areas, and responsible for approximately 60% of the NHS budget, are being replaced by 42 Integrated Care Systems (ICSs). These ICSs are intended to bring about major changes in how health and care services are planned, paid for and delivered, and are a key part of the future direction for the NHS as set out in the NHS Long Term Plan. Another major change for primary care has been the formation of 1,250 Primary Care Networks (PCNs) each representing small groupings of GP practices with registered patients numbering between 30,000 -50,000.
One major opportunity this represents for DXS is that these PCN's are mandated to utilise clinical pharmacists, a 70% NHS funded reimbursable role, to conduct structured medicine reviews on behalf of the GP practices. Our new AI medicines management solution will provide an invaluable tool empowering these pharmacists to manage complex reviews with minimal GP input and help the NHS manage COVID backlogs and GP shortages.
Refined Strategy
Against this backdrop, we have refined our strategy by accelerating our planned development of adding additional long-term conditions, such as diabetes, to our new solutions, underpinned by an aggressive sales and marketing campaign. Due to this increased investment in growth, we expect profitability to decline in the short to medium term resulting in an aggressive upward revenue and profitability curve within 18 months.
David Immelman, Chief Executive of DXS said: "We remain resolute in our conviction that our foresight and efforts into developing a world beating expert long term condition management solutions is 100% aligned with the global strategy of digital transformation in healthcare. This was again evidenced by the recent announcement of the NHS commitment to digital transformation to merge NHS Digital and NHSX with NHS England and Improvement.
We expect our suite of Expert AI Solutions to have a major positive impact in the improvement of healthcare outcomes."
INTERIM RESULTS to 31 OCTOBER 2021
CONSOLIDATED INCOME STATEMENT
for the six-month period ended 31 October 2021
Unaudited Group Unaudited Audited
6 Months ended 6 Months ended Year to
31 Oct 2021 31 Oct 2020 30 April 2021
Continuing Continuing Continuing
Operations Operations Operations
GBP GBP GBP
Turnover 1,618,439 1,716,424 3,605,766
Cost of Sales (191,952) (177,367) (419,757)
_________ _________ _________
Gross Profit 1,426,487 1,539,057 3,186,009
Administration Costs (1,111,965) (1,064,034) (1,917,310)
Depreciation and
Amortisation (274,093) (302,623) (980,683)
_________ _________ _________
Operating Profit 40,429 172,398 288,016
Sundry Income 2,152 - 9,539
_________ _________ _________
42,581 172,398 297,555
Interest payable and
similar expenses (21,154) (21,842) (43,882
_________ _________ _________
Profit on ordinary
activities before taxation 21,427 150,556 253,673
Tax on profit on ordinary
activities 115,925 74,269 243,240
_________ _________ _________
Profit for the period 137,352 224,825 496,913
========= ========= =========
Profit per share
0.3p 0.6p 1p
-- basic
0.3p 0.5p 1p
-- fully diluted
========= ========= =========
STATEMENT of FINANCIAL POSITION
as at 31 October 2021
Unaudited Unaudited Audited
Group at Group at Group at
31 Oct 2021 31 Oct 2020 30 April 2021
GBP GBP GBP
Fixed Assets
Intangible Assets 4,921,943 4,273,801 4,557,969
Tangible Assets 961 1,680 1,333
_________ _________ _________
4,922,904 4,275,481 4,559,302
_________ _________ _________
Current assets
Debtors Amounts falling due
within one year 320,784 283,515 850,258
Cash at bank and in hand 543,281 1,207,305 702,318
_________ _________ _________
864,065 1,490,820 1,642,576
Creditors: amounts falling
due within one year (689,586) (845,059) (951,673)
_________ _________ _________
Net current assets /
(liabilities) 174,479 645,761 690,903
_________ _________ _________
Total assets less current
liabilities 5,097,383 4,921,242 5,250,205
Creditors: amounts falling
due after more than one year (364,681) (563,580) (449,125)
Deferred income (447,958) (482,358) (653,688)
_________ _________ _________
4,284,744 3,875,304 4,147,392
========= ========= =========
Capital and reserves
Called up share capital 159,246 159,246 159,246
Share Premium 2,676,321 2,676,321 2,676,321
Provision for costs of share
option awards 173,808 173,808 173,808
Retained earnings 1,275,369 865,929 1,138,017
_________ _________ _________
Shareholders' Funds 4,284,744 3,875,304 4,147,392
========= ========= =========
STATEMENT of CASH FLOWS
Six months ended 31 October 2021
Unaudited Unaudited
Group Group Audited Group
Six months ended Six months ended year ended
31 Oct 2021 31 Oct 2020 30 April 2021
GBP GBP GBP
Cash flow from operating
activities 242,179 435,895 1,088,409
Interest paid (21,154) (21,842) (43,882)
Sundry Income 2,152 - 9,539
R&D tax credit 249,925 186,269 186,240
_________ _________ _________
Cash flow from operating
activities 473,102 600,322 1,240,306
_________ _________ _________
Cash flow from investing
activities
Payments to acquire intangible
fixed assets (637,695) (568,259) (1,529,762)
Payments to acquire tangible
fixed assets - (1,329) (1,707)
_________ _________ _________
(637,695) (569,588) (1.531,469)
_________ _________ _________
Cash flow from investing
activities
Repayment of long term loans (84,444) (24,074) (117,164)
Advance of long term loans - 190,000 190,000
_________ _________ _________
84,444 165,926 72,836
_________ _________ _________
Net increase / (decrease)
in cash and cash equivalents (249,037) 196,660 (218,327)
Cash and Cash equivalents
at 30 April 2021 792,318 1,010,645 1,010,645
_________ _________ _________
Cash and Cash equivalents
at 3 October 2020 543,281 1,207,305 792,318
========= ========= =========
Cash and Cash equivalents
consists of:
Cash at bank and in hand 543,281 1,207,305 792,318
========= ========= =========
Net Debt Reconciliation
Current Non Current
Debt Debt Cash Total
GBP GBP GBP GBP
At 30 April 2019 (420,131) (376,289) 1,010,645 (214,225)
Cash flow 212.992 (72,836) (218,327) (78,171)
_________ _________ _________ _________
At 30 April 2020 (207,139) (449,125) 792,318 136,054
Cash flow 64,771 84,444 (249,037) (99,882)
_________ _________ _________ _________
At 31 October 2021 (142,368) (364,681) 543,281 36,232
========= ========= ========= =========
The above figures have not been reviewed by the company's auditors Crowe U.K. LLP.
The Directors of DXS International plc accept responsibility for this announcement
Contacts:
David Immelman (Chief Executive) 01252 719800 DXS International plc david@dxs-systems.com https://www.dxs-systems.co.uk Corporate Advisor City & Merchant David Papworth 020 7101 7676 Corporate Broker Hybridan LLP Claire Louise Noyce 020 3764 2341
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.
(END) Dow Jones Newswires
November 23, 2021 09:00 ET (14:00 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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