Healthcare Enterprise Group PLC (“HCEG”), an international health products group publishes preliminary results today.
- Turnover of £16.4 million (2005: £15.0 million) as the business consolidates and restructures
- Operating losses, before exceptional items, £4.4 million (2005: profit £0.9 million)
- After goodwill impairment of £12 million and net exceptional items of £1.8 million pretax losses were £18.6 million (2005: loss £0.3 million)
- HSS, UK’s largest first aid and occupational health business, stabilising
- Some progress on Ebiox whilst the evaluation of its potential continues
- Optiscope prototypes have become available for analysis by healthcare professionals and industry participants
- Current trials of Fertiligent in Germany continue and initial results are positive
- Minority shareholdings in HCEG brand technology have been sold at a premium
Mark Tompkins, Group Chairman, commented:
“After a period of upheaval, the new management team has made good progress in consolidating and restructuring the HSS business. Further initiatives are ongoing to ensure we will shortly have a stabilised platform for the development of the business.
“Optiscope and Fertiligent have both been advanced. We are currently undertaking an in depth review of the Ebiox range and the Ebiox marketing strategy with a view to maximising shareholder value.
“Post year end, the sale of minority stakes in holding companies for the technology used in Optiscope and Fertiligent will fund immediate ongoing development costs of these businesses. Our optimism regarding these two businesses is underlined by the premium price we achieved in attracting investment into them.
“The Board remains committed to maximizing shareholder value across the Group within a reasonable timeframe.”
To view the complete results press release
click here
Enquiries:
Healthcare Enterprise Group PLC
Mark Tompkins, Group Chairman
Lyndon Gaborit, Executive Deputy Chairman
020 7351 7500
College Hill
Adrian Duffield
Corinna Dorward
020 7457 2020
