6PM Group has reported a profit before tax of GBP 180,046 (30 June 2011: loss of GBP 343,292). This amount is approximately equivalent to EUR 218,714 based on the average rate for the 6 months under review.
As of September 2011, the company invested in a new Macedonian subsidiary, in order to reduce its cost base. This resulted to be a positive step forward and in fact, as from that month, the group started to be profitable. Such a result was achieved in the following months and till the reporting month, the group remained profitable for 10 consecutive months. During the last 6 months, the company invested heavily in resources in order to be able to enter into the business to consumer market, through the development of low margin, high volume products.
The Quick products suite was launched at the end of June, and although development will continue for the coming 2 years, it is envisioned that the first sales results will be achieved as from the early month of the second half year. Furthermore, 6PM Group, through one of the associates (emCare360 Ltd), is also launching a new client oriented product in the field of telehealth and telecare. All the development on these products have originated from the group.
The above success stories are in addition to the achievements in the UK National Health Service (NHS), were the existing health products are being sold and enhanced in order to suit the clients’ requirements.
Furthermore, the group is investing in two new health solutions, developed in conjunction with the specialists in the medical field, in order to offer clinical solutions in the treatment of stroke and HIV patients. These clinical solutions will be launched in the UK market by the end of this year. The board is confident that the group will continue to achieve the expected positive results in the coming months and have therefore considered it appropriate to prepare this interim financial report on a going concern basis.
Considering that the global financial climate is seriously unpredictable and the movement in currencies cannot be underestimated, the directors are recommending that no interim dividend is to be paid, but if the positive results remain for the remaining part of this year, the board aims to deliver a final dividend which will be announced and subject to approval of the Annual General Meeting. The board is driving forward in order to achieve all the set targets within the internal business plan, which compels to give a dividend in virtue of the results obtained.