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Southern Cross

September 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.

  • Epic Code:
  • SCHE
  • Price:
  • 126.5p
Results for Q3 ending June recorded a further reduction in net debt to £71.4m but Southern Cross said it had come down further since then to £61.8m and having now completed its four development properties, it will seek to divest these freeholds. The first one in Bristol (81 beds) has been registered and has accepted its first residents and the remaining three homes (246 beds) will open for business during September. During the period, Southern Cross took on leases for four new homes to take its total to 742 homes with the overall number of beds up by 245 on the quarter to 37,820. Q3 revenues were £254.8m, up 4% year on year but EBITDA was down 9% to £22.2m due to a 2.1% decline in year to date mature occupancy. The big ...

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Related Articles

Southern Cross - Rapidly paying down debt (June 2009)
Southern Cross - Could eliminate debt (March 2009)
Southern Cross - Sale and leaseback of 16 homes (September 2008)
Southern Cross Healthcare - IMS later this month (August 2008)

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.

All material on this website is protected by copyright. You may use Information retrieved from the www.scsw.co.uk website for your own personal non-commercial use which means that you may not sell or copy this information to any third party without prior written consent. ISSN 1358-183X

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