DawMed Systems PLC
30 November 2007
DAWMED
For Immediate Release: 30 November 2007
DAWMED SYSTEMS PLC ('Company')
TIMING OF ANNUAL ACCOUNTS
AND
TRADING STATEMENT
Due to the Company's installation of a new fully integrated IT system, which has
taken longer than was originally envisaged and has spanned the financial year
end, there will be an inevitable delay in the preparation and audit of the year
end accounts for the period ended 30th September 2007. The Company therefore
expects to announce its final results on or about 20 March 2008 and post the
Accounts not later than 31 March 2008 in accordance with the AIM Rules.
Whilst the prediction in the 2007 Interim Report that the second half of the
year would show an improvement over the less than anticipated performance of the
first half was fulfilled, the second half will nevertheless also report a loss,
albeit much smaller, and the overall result for the year will therefore be a
significant loss. The main contributing factors to the loss were the
considerable investment in the new IT system, the substantial costs associated
with the litigation arising from the alleged breach of contract by a trade
debtor, including its settlement during the financial year, and in particular an
unexpected and serious continuation of the dearth of NHS expenditure on capital
and revenue equipment for infection control.
That said, the mandate granted to the Healthcare Commission (an independent body
with wide powers to ensure compliance with infection control protocols by NHS
Primary Care and Hospital Trusts) is beginning to take effect and this, together
with an apparent uplift in NHS expenditure and a strong movement towards
collaboration between groups of NHS Hospital Trusts to offer larger scale group
contracts for infection control equipment and consumables, means that your
Company is busy again responding to higher levels of contract invitations with a
view to winning a reasonable proportion of such business in the current
financial year.
Enquiries: Kevin Gilmore
Executive Chairman
DawMed Systems plc 01789 740010
Roland Cornish
Chairman
Beaumont Cornish Limited 020 7628 3396
Dominic Barretto
Director
Bishopsgate Communications Limited 020 7430 1600
This information is provided by RNS
The company news service from the London Stock Exchange
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