6pm Holdings plc - Interim Directors’ Statement

On 19 May 2010 6pm Holdings plc issued its Interim Directors’ Statement covering the period from 1 January 2010 to date. The Group stated that it is cautiously optimistic of concluding a substantial contract negotiation by the end of June 2010 which may result in a respectable first half year performance. Meanwhile, during the period under review, the effect of the global recession continued to be manifest in the Group’s performance. The Group explained that it also saw the early signs of an end to the postponement of material contract opportunities seen in 2009 which is encouraging and supports 6pm’s expectations of an improvement in prospects and order book for the remainder of 2010.

The 6pm Group explained that the transformation of its business from a pure service company to a product solutions business continued during the period under review. Approximately 63% of Group revenues during 2009 were derived from Product Solution sales and this is expected to continue to grow during 2010. The Group claimed that its own Intellectual Property and domain expertise is an important ingredient in these sales to preserve its competitive advantage. During the period under review, the Group introduced a further two product solutions which were developed in collaboration with Customers/Stakeholders in the health sector.

The Group declared that since the start of the year some new prestigious accounts were added to 6pm’s portfolio in both the public and private sectors whilst it also experienced an increase in business from its Maltese subsidiary. The 6pm Group recruited a Finance Manager whose remit falls beyond the finance function and includes the improvement of external communications and the refinement of business systems and processes.

Comments are closed.