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Synergy Healthcare - Hike in costs triggers warning

December 2008

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 Synergy Healthcare fell sharply after the company unexpectedly warned on profits ahead of reporting its half year results for the period to 28 September. Although turnover rose 30% to Â£133m adjusted profit before tax increased only 7% to Â£9.4m, but at least the forward order book was maintained at Â£800m. The chief bugbear was the Decontamination Services division, which sterilises surgical instruments and provides procedural packs. This saw a 35% rise in sales to Â£21m, but more importantly a massive 6% decline in operating margins. This reflected greater than expected costs from new contracts and higher energy and transportation costs. Although these contracts are generally linked to RPI, there has been a lag b ...

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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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Synergy Healthcare - Hike in costs triggers warning

December 2008

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