News

Healthcare Enterprise slashes losses

31 May 2007 09:22:00

Healthcare Enterprise's full-year losses narrowed as the medical products firm refocused its healthcare distribution business in Warrington and moved away from low margin contracts.

Pre-tax losses came to £4.1m for the year to 28 February compared to a loss of £18.6m previously. Turnover fell to £12.7m from £16.4m.

The group said it will save about £100,000 when it relocates its head office from London to Warrington before the end of June.

Healthcare added that initial sales at its Ebiox unit were "encouraging" after it secured the US Environment Protection Agency's approval for patented concentrate and spray disinfectants in February.

Distribution arm Crest Medical is also beginning to see the benefits of the substantial changes made to the medical and first aid distribution business.

"The group is optimistic about the possibility of achieving profitability in the second half of the new financial year," the group said.

It added that management continues "to actively explore all options" to develop the group and generate shareholder value.

All data suppied by Digital Look (15 minute delay)




Risk Warning

There is an extra risk of losing money when shares are bought in some smaller companies including 'Penny Shares'. There is a big difference between the buying price and the selling price of these shares. If they have to be sold immediately, you may get back much less than you paid for them or you may have difficulty in selling them. Past performance is not a reliable indicator of future results. The price may change quickly and it may go down as well as up. You could lose every penny put into a particular share.

The information contained above has been compiled from documented sources which are believed to be reliable but, due to their very nature, are subject to a degree of historical inaccuracy and have not been independently verified and cannot be guaranteed. The pages on this website are provided for information only. City Equities Limited will not accept responsibility for loss incurred by any person or body acting, or refraining from acting, as a result of information and/or opinions given anywhere on this website. Issued by City Equities Limited, Aldermary House, 10-15 Queen Street, London, EC4N 1TY. Registered in England. Registered No. 2742847. Registered Address: Amwell House, 19 Amwell Street, Hoddeson, Herts. EN11 8TS. City Equities Limited is Authorised and regulated by the Financial Services Authority. Registration No. 155051.