Updates

Al Noor Hospitals

April 2014

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

Shares in Al Noor Hospitals, the largest healthcare provider in the UAE, which we originally tipped at 644p in August â€˜13, have zoomed ahead towards Â£10. This strength reflects excellent final results with turnover and underlying operating profit rising 12.5% and 21.6% respectively to US$365m and US$75m, while eps was 56 cents. Net cash was US$107.4m, while it also has a US$82m un-used borrowing facility. Outpatient volumes rose 11% to 1,672,485 and inpatients rose almost 14% to 40,475, driving respective revenues up 14% to US$274.5m and 9% to US$90.6m. Doctors cost inflation was 5% and cost of medicine / consumables rose 4.4% but strong cost control meant gross margin rose 0.5% to 42.3%. The only slight disappointment w ...

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Essentra - Further acquisitions expected

Al Noor Hospitals - VPSâ€ˆHealthcare and NMC could yet gatecrash agreed Mediclinic offer (December 2015)

Al Noor Hospitals - In merger talks (November 2015)

Al Noor Hospitals - Shares hit by director sale (June 2015)

Al Noor Hospitals - Shares hit new high (October 2014)

Al Noor Hospitals (June 2014)

Al Noor Hospitals - Third acquisition post float (February 2014)

Al Noor Hospitals - Makes its first two acquisitions (December 2013)

Al Noor Hospitals - Hospitals group forecast to grow eps 88% over next three years (October 2013)

AL Noor Hospitals - Exciting new issue in fast growing Middle East private health care market (August 2013)

With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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