6pm Holdings plc - Interim Directors’ Statement

On 17 May 2014, 6pm Holdings plc published its Interim Directors’ Statement updating the market on its performance since the start of 2014.

During the period under review, the 6pm Group continued to sustain the performance achieved in 2012 and 2013 and continued to register profits month after month as has been done since September 2011. From an operational perspective, the Group underwent an internal re-organization including the formation of Business Units to ensure complete focus and visibility on the targets to be achieved. Additionally, in view of the healthy sales pipeline, the Group is venturing into new initiatives including investment in own products and also business development initiatives. Moreover, the Group will also continue with its effort to cut costs with the aim of improving the Group’s profitability.

The announcement also gave a more detailed overview on some of the Group’s products as well as initiatives as described below:

• intelligent File and Inventory Tracking (iFIT): Sales of this system exceeded expectations with a further 3 installations being made during the first few months of 2014. In view of this success, the Group is enhancing this solution whilst also adding new verticals (outside of the health sector) where the solution can be implemented.

• Business-to-consumer suite: This was launched in 2012 and continued to be developed with another product within this product suite to be launched shortly.

• Geographical Diversification: The Group (as announced on 20 March) set up a new subsidiary in Ireland, Six-PM Health Solutions (Ireland) Limited, which is 70% owned by the Group and 30% by Mr Anthony O’Carroll. The new Irish subsidiary will be inheriting all of the business activity of Medrex Systems (Ireland) Limited which was previously owned by Mr O’Carroll and who will now be the Managing Director. The Irish subsidiary is already securing an ongoing activity within the Irish market with the prospect of selling 6PM products. Additionally, the Group is considering to develop business opportunities in Scotland, Canada and the United States. In fact, 6pm is shortly expected to announce its plans on the latter market.

• emCare: This company, formed by 6pm and Care Malta, continued to report improvements and as such the Group is evaluating the possibility of making further investments in this venture to ensure the all its potential is exploited in favour of all the shareholders involved.

 

In conclusion the Directors stated that the Group has a cautiously optimistic outlook for the forthcoming financial year and anticipate that the results obtained in the first few months of 2014 will continue during the rest of the year, thus keeping a profitable position.