6pm Holdings plc said yesterday that following the quiet summer period, the group is now experiencing a positive turn in its results and “remains optimistic” that in 2012 it will overcome the difficulties experienced during 2010 and 2011.
In its Directors Interim Statement 6pm plc said that building on the improvements registered during the first half of the year 6pm UK continued its steady progress and a number of new development projects have been signed or are expected to be signed by December 2011, projects which will spill over to 2012.
“Following the successful kick-off of the Macedonia operation a couple of months ago, 6pm today operates in three countries with offices in Malta, London and Skopje (Macedonia). While the core business is still the NHS Market in the UK, the group has commenced with the delivery of its ‘Low Margin High Volume’ strategy which is focused on the development of consumer applications that will be taken to market by mid-2012,” the company said.
It added: “In 2011, Compunet Operations Ltd focused its efforts to develop its corporate infrastructure and services business. This has resulted in a significant increase in revenue which is expected to reach the € 1.5 million mark for the nine month period to December 2011. The company has re-invested significant funds in training and has employed specialist staff in order to keep expanding its foothold on the said corporate market both in Malta and in the UK.”
It said that during the second part of the year 6pm also undertook a 25 per cent shareholding in emCare360 together with the Vassallo Group. In addition to the investment, 6pm is also the lead software developer of this electronic and mobile health solution company which will be offering services in Malta and later on overseas.
“2011 has been a challenging and exciting year. As a group we completed a successful Rights Issue. We acquired Compunet which has provided the group with excellent growth results. Not to mention the investment in emCare with Vassallo Group and our Macedonian offices. September 2011 has seen us turn in a profit and the outlook until the end of the year is positive. I am upbeat about the prospects for 2012. The energy within the group has certainly never tapered out and I am personally committed to ensure we stay on this positive path,” said group chief executive Ivan Bartolo.