6PM registers an increase in profit before tax for the first six months of 2013

Published: August 14, 2013

6PM has registered a profit before tax of GBP £245,087 (30 June 2012 – GBP £180,046) for the first six months of the year until 30 June 2013.

6PM Group has managed to remain in a profitable situation thanks to the continuous efforts in attracting new projects especially in the UK National Health Service (NHS) sector, and maintaining the cost base as low as possible.

During the first 6 months of 2013, 6PM secured a contract of more than GBP £2 million with St George’s Trust to deliver a system incorporating Electronic Document Management (EDM) and the newly implemented intelligent File and Inventory Tracking system (iFIT). It is projected that the solution will be delivered by the end of the year.

Currently 6PM is implementing an EDM system in Georgia in partnership with EMC, a global leader in enabling businesses and service providers to transform their operations and deliver information technology as a service.

6PM is in the process of developing clinical products for the UK NHS sector. The Climate-HIV solution was sold to a number of UK Trusts in the first six months of 2013. The clinical solution for stroke, Strokepad, will be available in the last three months of this year. Discussions are taking place to start the development of a clinical solution for dementia patients and a system around patients with Hepatitis C is being considered too.

6PM also offers non-health related products through its high volume, low margin strategy. These include the Quick suite of products which has recently been rebranded and enhanced with new products. More products within the suite will be launched by the end of 2013.

The exposure brought by the products within the group has driven sales opportunities in Gibraltar, the Netherlands and Ireland. The Group is currently investigating opportunities in Libya and the Middle East.

An associate company with the 6PM Group, emCare360 Ltd, is now fully operational and is serving a substantial client base in the field of eMonitoring and eCare, both directly and through nursing homes. Although still not financially profitable, discussions are being held to expand the services being offered, considering the potential that the solution has to offer.

In the coming months 6PM will start operating from new offices that will cater for the requirements of the group. The 6PM Business Centre in Swatar will also have room for expansion. It is expected that such a move will create new synergies and increase productivity throughout all the companies within the group.

In the first six months of the year 6PM subscribed to the remaining 30% of the share capital of Agilis6 Ltd and formed 6PM Gibraltar Ltd with 100% of the share capital subscribed by 6PM Holdings plc.

The Board of Directors has recommended that no interim dividend will be paid for the interim period but if the positive results remain for the rest of the financial year, the board aims to deliver another final dividend that will be announced and subject to approval of the Annual General Meeting.