Updates

Synergy Healthcare - Over 85% of forcast sales in the bag

June 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.

Synergy Healthcare's results exceeded best expectations, helped by a nine month contribution from Dutch business, Lips Textile Services. Turnover more than doubled to £71.9m including £36.2m from Lips (organic sales growth of 10% in UK business). Profit before tax and goodwill increased 133% to £9.7m and eps by 57% to 20.1p. Operating profit ex-Lips was up 17% to £4.82m. Net cash at the year end was £2.9m. But Synergy has become coy about shouting too hard about these numbers and the margins on some contracts. The reason being that this could easily see authorities look at ways to counter its dominance, notably by awarding contracts (and there are some big ones around currently) to competi ...

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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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