9 February 2012

Assura welcomes NHS changes

06/08/2008 Robert Tyerman

Healthcare group Assura says government health service plans will work in its favour despite an expected trading loss.

The fully listed company has been changing from a medical property investor and developer into a property-backed medical and pharmacy services provider through partnerships with general practitioners. In a first quarter trading statement, chief executive Richard Burrell argues Lord Darzi’s recent review on the future of primary healthcare ‘fully endorses’ the company’s own strategy and suggests recent Department of Health pronouncements ‘indicate the market will be opened up faster and wider’.

By last Friday, Burrell says Assura’s ‘GPCos’ had 22 medical services scheduled to be commissioned by the end of the month, with ‘a pipeline of a further 70 either awaiting accreditation or the outcome of tenders’. He says turnover is growing fast at the company’s expanding chain of pharmacies, though budgeted annual turnover will fall by £6 million because, after due diligence, Assura decided not to proceed with two planned pharmacy acquisitions.

Having made a sharply reduced £3 million pre-tax in the 15 months to March on turnover up from £16.1 million to £40.7 million, the company says it is now on track for a ‘budgeted trading loss’ for the present financial year. The shares have fallen from 249.5p last summer to 84p now, valuing the company at £197.5 million.

Save 50% off your first year’s subscription to Growth Company Investor magazine, and gain immediate access to all the recommendations online. Click here.

Sector: Health Care Equipment & Services

Companies: Assura Group

Subscribe today


Subscribe today and save 50%. Receive company watch recommendations and extensive company profile tips, released two months ahead of the market.

Sign up here

Spread Trading. New from Halifax Share Dealing

£100 credit when you open five trades within 60 days – terms apply. Spread Trading is not for everyone please ensure you understand the risks as you may lose more than your initial deposit. Click here for more information.

Institutional Investors in AIM 2011 - New Report

This unique study analyses the shareholdings of companies listed on AIM, extracting trends including rankings of the value and number of their investments.
Please click here to order your copy of the report or call 0207 250 7056.

Coverage of AIM, techMARK and PLUS Markets

Informative features and research on fast-growing companies, small-cap and growth stocks, penny shares, stock market tips and share recommendations, directors' dealings, company news and analysis, new issues and upcoming IPOs.

If you're interested in business tax updates visit our specialist tax guide website.

Latest small-cap and growth company news

Daily coverage of small-cap company stocks on London's junior markets AIM and PLUS, breaking news, stock research and latest share price information for investors. Full sector coverage with all the latest news on smaller listed companies, updated several times a day with financial reports, trading statements and links to further web resources.

Popular News

Latest News

Nighthawk remains jolly 09/02/2012

US-focused Nighthawk Energy is launching a $7.5 million program to invest in its Colorado-based Jolly Ranch project.

Tags: AIM-quoted business, Doing business in the US, Drilling new wells, Investing in Colorado

Sector: Oil & Gas Producers

Companies: Nighthawk Energy

Tower raises £5.4m 09/02/2012

Africa-focused Tower Resources (TRP) has raised £5.4 million via a placing with a mixture of institutional investors and directors.

Tags: Doing business in Africa, Doing business with New Jersey, Placing, Unusual financing arrangements

Sector: Oil & Gas Producers

Companies: Tower Resources

Thomas nurses £91m loss 08/02/2012

Beleaguered travel operator Thomas Cook (TCG) has reported a loss of £91 million its first quarter also announcing the sale of its Indian division.

Tags: Doing business in India, Sale of subsidary, Travel and leisure, Travel operator

Sector: Travel & Leisure

Chariot finishes 3D survey 08/02/2012

AIM-quoted Chariot Oil and Gas (CHAR) has completed a 3D seismic survey across its central blocks.

Tags: AIM 100, Business in Namibia, Commodities in Africa

Sector: Oil & Gas Producers

Companies: Chariot Oil & Gas

Aminex and Solo disappoint 07/02/2012

Aminex (AEX) and Solo Oil (SOLO) both reported the Ntorya-1 well had 'not encountered' sandstone intervals after drilling 2500 metres.

Tags: Commodities in Africa, Oil and gas projects, Product sharing agreement

Sector: Oil & Gas Producers

Companies: Aminex , Solo Oil , Tullow Oil

Brady to raise £18m 07/02/2012

Brady (BRY), the supplier of software to the commodities sector, is to raise £18 million to fund two acquisitions.

Tags: Acquisitions, Commodities sector, GCI sector picks, Software sector

Sector: Software & Computer Services

Companies: Brady

More News

Sectors