(Alliance News) - DXS International PLC on Tuesday reported slight revenue growth for the recent financial year, but was cautious about its likelihood of reaching future targets.

The Leicestershire, England-based healthcare information and clinical decision support systems provider said its pretax loss for the year ended April 30 narrowed to GBP97,706 from GBP98,645 the year before. Its profit per share remained unchanged at 0.5 pence.

Revenue increased by 3% to GBP3.4 million from GBP3.3 million, and DXS said its core recurring revenue model "continues to be resilient". At April 30 DXS had GBP371,978 cash, down from GBP452,379.

"Sales progress is proving to be frustratingly slow, however there is no doubt that we have 'first of type' solutions that can deliver significant results for healthcare providers and their patients," commented Chief Executive David Immelman.

"We are continuing with our development of cutting edge healthcare solutions focused on delivering improved health outcomes more cost effectively in the UK and internationally. "

Looking ahead, DXS said the market expectation of GBP4.7 million annual revenue in the current financial year "may no longer be achievable." However, it said it "remains confident" that it will reach the target in 2024 at some point after April 30.

"The pace of accessing the NHS market remains challenging, primarily due to the inaccessibility of pressured NHS staff struggling to deal with treatment backlogs, strikes, staff shortages, restructuring and budget constraints," DXS said.

"This adds elements of uncertainty to the rate of our growth plans and while we believe our sales and revenue targets to be highly achievable in the medium term, the envisioned timeframe remains uncertain."

Immelman added: "Our strategy is to remain super focused underpinned by the conviction of ultimately delivering results to our stakeholders and our shareholders."

On Tuesday in London the stock was untraded at 3.25 pence. Shares were last traded on May 25.

By Emma Curzon, Alliance News reporter

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