DXS International PLC on Tuesday reported a significant narrowing of its interim loss as it said gaining sales growth remained ‘frustratingly slow’.
The Leicestershire, England-based healthcare information and clinical decision support systems provider said its pretax loss narrowed to £58,869 in the six months to October 31 from £258,472 the prior year.
The firm reported a significant reduction in depreciation and amortisation charges over the same period, reducing to £493 from £570,007. This was owed to the write down of deferred expenditure in April 2024.
Revenue for the interim period grew 2.2% on-year to £1.73 million from £1.69 million as DXS International said its ‘core recurring revenue model remains resilient’.
The firm acknowledged that existing NHS budgets continue to present a barrier to closing new sales, but added that it was ‘a matter of time’ before new NHS funding is directed towards alleviating pressures through the introduction of new innovative digital solutions.
Shares in DXS International were flat at 1.75 pence on Tuesday afternoon in London.
Chief Executive David Immelman said: ‘Although gaining sales growth remains frustratingly slow, I repeat my statement from a year ago: We remain confident that we have exceptionally effective solutions for helping the NHS to resolve their acknowledged problems and that this can be demonstrated by provable data which saves millions of pounds annually, saves patient lives, helps with the resource shortage and contribute to the NHS net zero targets.
‘Our team remains fuelled with conviction and enthusiasm for what we have to offer to the NHS and beyond. The board continues with salary cost cuts as a contribution to cash flow.’
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