6th Oct 2010 07:00
Trading Update
Wednesday 6 October 2010
Synergy Health PLC ("Synergy" or "the Company")
Synergy Health PLC (SYR.L), a leading provider of specialist outsourced services to healthcare providers and customers concerned with health management in UK and Ireland, Europe, the Middle East, Asia and Africa, is pleased to announce that earnings for the six months ended 26 September 2010 is in line with the Board's expectations. The trends established in Q1 continued into Q2 with further margin progression, but with revenue growth in sterilisation and decontamination offset by flat revenues from linen and by the wind down of our non-core businesses. As anticipated, the bid pipeline is improving and new contract wins have added £60 million per annum to the forward order book. The Board is encouraged by the continued strong demand for decontamination services particularly in the UK as well as the ongoing discussions in the Jiangsu Province in China. Strong cash generation has further reduced net debt as at 26 September 2010 to £118 million (27 September 2009: £148 million; 28 March 2010: £133 million).
Interim results for the six months ended 26 September 2010 will be announced on 4 November 2010.
For Further Information:
Synergy Health plc |
|
Dr Richard Steeves, Chief Executive |
Tel: +44 (0) 7768 020202 |
Gavin Hill, Finance Director |
Tel: +44 (0) 7850 312262 |
Morgan Stanley |
|
Peter Moorhouse |
Tel: +44 (0) 20 7677 2395 |
Investec |
|
Patrick Robb |
Tel: +44 (0) 20 7597 5970 |
Financial Dynamics |
|
Ben Brewerton |
Tel: +44 (0) 20 7831 3113 |
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