6pm Holdings plc has reported an interim pre-tax profit of £180,046 (approximately equivalent to €218,714) for the six months to June 30, an improvement on the pre-tax loss of £343,292 in the first half of last year. 6 pm, which reports in sterling, invested in a new Macedonian subsidiary to reduce its cost base last September, and the group returned to profitability that month. The group has remained profitable for 10 consecutive months.
In the 2011 financial year, the IT group registered a loss after tax of £354,888.
The directors are recommending no interim dividend is paid “considering the global financial climate is seriously unpredictable and the movement in currencies cannot be underestimated”. The board, however, pledged to deliver a final dividend, subject to approval at the annual general meeting, if the positive results continue in the latter part of the year. It said it was driving forward to achieve all the targets set in the internal business plan.
In the last six months, the company invested resources heavily 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. Although development will continue for the next two years, the first sales results are expected to be achieved from the early month of the second half year.
The group, through one of its associates emCare360 Ltd, has launched a client-oriented product in telehealth and telecare. All development originated from the group.
“These success stories are in addition to the achievements in the UK NHS where the existing health products are being sold and enhanced to suit clients’ requirements,” 6pm said. “The group is investing in two new health solutions, developed in conjunction with the specialists in the medical field, to offer clinical solutions in the treatment of stroke and HIV patients. These clinical solutions will be launched in the UK till the end of the year.”
The board said it was confident that the group will continue to achieve the expected positive results in the coming months and has considered it appropriate to prepare the interim financial report on a going concern basis.