6PM Holdings plc – Interim Directors’ Statement

6PM Holdings plc announced that as quoted in the Annual Report currently being distributed to the shareholders, the Group continued to improve the financial performance, a trend that started during the right issue held in 2011. The Group continues to sustain the performance achieved in 2012 and 2013 in the first months of 2014 and managed to achieve profits month after month as from September 2011. 

As from this year, an internal re-organization exercise has been performed in order to ensure that the executive team and the Board of Directors remain focused on the required deliverables. The formation of Business Units within the structure ensured complete focus and visibility on the targets to be achieved. Over the past months in 2014, positive trends have been experienced, and the sales pipeline is also healthy, also inducing the Group to continue to venture into new initiatives, being investment in own products and also business development initiatives. The executive team will continue with its effort to curb costs as much as possible, even by internal development, to secure established targets and improve the bottom line of the Group. 

The intelligent File and Inventory Tracking (iFIT) system continued to surpass expectation on sales, and throughout the first months of 2014, the system is being installed in another 3 different sites. Considering this success, it has been decided to continue to invest in this product, by refining the base platform that will be used within the Trusts, and also producing additional verticals where the solution can be implemented. The success of this system within the National Health Service Trusts is that the rate of return varies between 12 to 18 months, depending on the size of the trust. This makes it a product which is very attractive to the Trusts. 

Furthermore, the business-to-consumer suite launched in 2012 continued to be developed and in these days, another product within the suite is being launched. A lot of marketing activity is being generated around this suite in order to ensure the success of the product. 

Apart from internal development, the Group has engaged in Business Development to tap into new markets. Ireland was the first to be launched, which is already securing an ongoing activity within the Irish market, with the prospect of selling 6PM products. The Group is currently focusing to develop business opportunities and a presence in the Scottish and Canadian markets through collaboration with local partners. Furthermore, the Group expects to make a further positive announcement on its plans for the market in the United States.

The involvement in emCare, a company formed between 6PM and Care Malta, continued to strive improvement within its line of business, and the Group is evaluating the possibility of further investing within the company to ensure that the potential that this company has will continue to be exploited in favour of all the shareholders involved. 

The Group is cautiously optimistic for the forthcoming financial year and anticipates that the results obtained in the first months of 2014 will continue during the rest of the year, thus keeping the positive profitability situation which was experienced in the past months. 

To view the official company announcement, click here.