Adams Regulatory News (ADA)

30 Nov 2007 07:00

DawMed Systems PLC30 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 hastaken longer than was originally envisaged and has spanned the financial yearend, there will be an inevitable delay in the preparation and audit of the yearend accounts for the period ended 30th September 2007. The Company thereforeexpects to announce its final results on or about 20 March 2008 and post theAccounts 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 theyear would show an improvement over the less than anticipated performance of thefirst 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 asignificant loss. The main contributing factors to the loss were theconsiderable investment in the new IT system, the substantial costs associatedwith the litigation arising from the alleged breach of contract by a tradedebtor, including its settlement during the financial year, and in particular anunexpected and serious continuation of the dearth of NHS expenditure on capitaland revenue equipment for infection control. That said, the mandate granted to the Healthcare Commission (an independent bodywith wide powers to ensure compliance with infection control protocols by NHSPrimary Care and Hospital Trusts) is beginning to take effect and this, togetherwith an apparent uplift in NHS expenditure and a strong movement towardscollaboration between groups of NHS Hospital Trusts to offer larger scale groupcontracts for infection control equipment and consumables, means that yourCompany is busy again responding to higher levels of contract invitations with aview to winning a reasonable proportion of such business in the currentfinancial 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