Updates

Synergy Health - Margins recovering

July 2009

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.

The satisfying upward spike in shares in Synergy Healthcare was fully deserved with final results indicating that the problems previously bugging it have receded. For the year to 29 March revenues rose almost 22% to Â£274m while pretax profit increased 4.8% to Â£26.1m. Eps rose 4.6% to 37.1p. Net debt increased from Â£145m to Â£170m but remains well within the facility of Â£232m.Synergy's decontamination services division, which supplies procedural packs for hospital operations and sterilises surgical instruments, had been one of the bug-bears with increased start-up costs from new contracts impacting on margins although revenues were ahead 22% to Â£42.9m. However, margins have now recovered to previous levels. While contracts fro ...

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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 Health - Margins recovering

July 2009

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