On 6 August, 6pm Holdings plc published its interim results covering the six months ended 30 June 2012. During the period under review, the 6pm Group registered an 82.4% increase in revenue to GBP3.89 million reflecting the increased sales of the Group’s health-related products across the UK National Health Service (NHS). Given the higher business activity, operating expenses jumped by 52.3% to GBP3.69 million leading to an operating profit of GBP203,678 compared to the operating loss of GBP288,358 reported in respect of the first six months of 2011. The Directors noted that since the opening of a Macedonian subsidiary in September 2011, the 6pm Group has been benefitting from cost savings which helped the Group turn profitable.
After accounting for GBP23,633 in net finance costs, 6pm’s pre-tax profit amounted to GBP180,045 compared to the pre-tax loss of GBP343,292 reported during the first six months of 2011. The 6pm Group benefitted from a tax credit of GBP4,838. The 6pm Group registered a net profit of GBP184,883 following the losses reported during the first half of the three preceding years. In June 2011 a loss of GBP184,883 was registered.
The Interim Report also revealed that the 6pm Group subscribed to 42.9% of the share capital of Makeezi Ltd, an IT subsidiary of the Vassallo Builders Group which in turn is one of the major shareholders in 6pm Holdings plc. Unfortunately, the interim report fails to disclose the rationale behind such an investment and the consideration paid.
Similar to previous years, the Directors did not declare an interim dividend. However, the Directors stated that if the positive trend reported in the first half of the year will continue during the remainder of 2012, the Directors will consider re-instating a final dividend after a four-year absence.
At the end of June 2012, the Group launched its new Quick product suite with the first sales expected to be concluded during the second half of 2012. Nonetheless, development on this product suite will continue for the next 2 years.
Moreover, through its associate, emCare360 Ltd, 6pm will be launching a new client oriented product in the field of telehealth and telecare.
In the UK market, the 6pm Group will be launching two new solutions, relating to the treatment of stroke and HIV, by the end of this year.
Download a copy of the 6pm Holdings plc June 2012 Half-Year Results Report