Updates

Patientline

July 2005

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.

Results for the year to 31 March showed sales increase dramatically from £37.2m to £49.4m as a further 17,300 terminals went live to take the number to 73,000 in 151 hospitals. The depreciation charge was £21m and although the UK rollout has been slowed (10,000 new terminals to come this year) to focus on profit, this made results again look much worse than they were. Outside the UK, the small operation in Holland fared very well whilst the nascent US operation is live at two hospitals. Overall, pretax loss reduced from £8.2m to £4.6m (but demonstrating the strength of Patientline's cash generation EBITDA lifted from £9m to £16.4m). Year end debt was £76.8m and will peak mid-2006. Ev ...

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Accident Exchange

TRL - Record Â£21.3m order book

Patientline - Roll out slowed to bring profit sooner (December 2004)

Patientline - Finance Director buys shares (July 2004)

Patientline (May 2004)

Patientline (April 2004)

Patientline - A high quality repeat revenue story emerges (February 2004)

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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