Half-year report

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 2022.

Financial Highlights

• Revenue for the six-month period was marginally up at £1,652,467 (2021: £1,618,4383);
• Profit/Loss before tax is a loss of (£131,269) (2021: Profit £21,427) and profit after tax £27,656 (2021: £137,352).
• Cash on hand £398,745.
  
  
  
  

Results overall are in line with projections. Reduced profit is largely due to increased operating costs and depreciation.

Operational Highlights

• A six month referral trial utilising DXS SMART referral functionality produced significant results in reducing referral rejections from 36% to less than 2% and cutting waiting times from 44 to 22 weeks.
• The IM1 (Interface Mechanism 1 – the NHS owned API providing access to patient records) development and integration with our new generation Aios Platform is complete providing improved user functionality and ability to meet new NHS COVID induced challenges.
• The first revised model ExpertCare hypertension trials, commencing before the end of January 2023 with a group of Primary Care organisations recruited, is ready for participation in up to a 6-month trial.
• Overall development of our new cloud based DXS Point-of-Care solution is progressing well with a first version expected to be launched in the first quarter 2023.
• Concluded the renewal of existing CCG (Clinical Commissioning Group) agreements due to the NHS restructuring.
  
  
  
  

Engaging with the various NHS organisations remains challenging due to COVID induced backlogs, clinician shortages and NHS restructuring. On the positive side the NHS announced the following goals for the next 12-months:

• Recover NHS core services and productivity.
• As they recover, make progress in delivering the key ambitions in the NHS Long Term Plan (LTP).
• Continue transforming the NHS for the future.
  
  
  
  

To achieve this the NHS have set out clear objectives, some which fit squarely within our solution capabilities.

• On 23 December 2022, the NHS CEO announced the 2023/24 priorities and operational guidance which includes reducing waiting times and improving blood pressure control to 77% by March 2023.
• Empowering the wider workforce to tackle clinician shortages.

David Immelman, CEO of DXS International plc, said:

“With the persistent challenges facing the NHS, our solutions have never been more aligned to NHS priorities.  Our new products are currently being trialled in numerous clinical commissioning groups with significant results demonstrated in reducing referral rejections and drastically cutting waiting times.  We are solely focused in converting these trials to commercial contracts. 

This provides us with an opportunity to engage with the NHS in utilising both our referral and hypertension solutions in significantly contributing towards achieving these objectives.

We are a passionate and bold team with innovative solutions that can make a significant positive contribution towards curbing and cutting rising healthcare costs and ensuring healthier populations. Future sales prospects, in the UK and abroad, are promising, generated by the persistent efforts of our dedicated sales and marketing team. This will ensure the achievement of our objectives resulting in planned shareholder rewards."

INTERIM RESULTS to 31 OCTOBER 2022

CONSOLIDATED INCOME STATEMENT

for the six month period ended 31 October 2022

STATEMENT of FINANCIAL POSITION

as at 31 October 2022

STATEMENT of CASH FLOWS

Six months ended 31 October 2022

Net Debt Reconciliation

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:

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.