On 15 November 6 pm Holdings plc published its Interim Directors’ Statement covering the period between 1 July 2011 and the date of the announcement.
During the third quarter the Company extended its operations into Skopje, Macedonia. While the core business remains in the British medical sector, NHS Market, the Group has initiated the ‘Low Margin High Volume’ strategy which will be delivered to the market by the middle of 2012. This involves the development of Consumer Applications. In order to successfully support this strategy, 6pm announced that it is also investing in Social Media.
6pm UK continued with its progress and a number of new development projects have been signed or are expected to be signed by December 2011, which will spill over onto 2012.
In April 2011, 6pm Holdings plc completed a rights issues and part of the proceeds were used toward the acquisition of Compunet Operations Ltd. The subsidiary has resulted in a significant increase in revenue which is expected to reach €1.5 million by December 2011.
During the current financial year, 6pm also subscribed to a 25% shareholding in emCare 360 together with Vassallo Group. Through this acquisition, 6pm will be offering electronic and mobile health solutions to the local market and also in the UK.
For the first six months of 2011, 6pm had reported overall revenue of £2.1 million but incurred a loss of £0.34 million. 6pm reported that after a quiet summer period, it is experiencing a positive upturn in its results and remains optimistic that in 2012, 6pm will overcome the difficulties experienced in 2010 and 2011.