18th Jul 2007 07:01
Company Health Group PLC18 July 2007 18 July 2007 Company Health Group PLC ("Company Health" or "the Group") TRADING UPDATE Appointment of chief executive Company Health (AIM: CHT), a provider of occupational health services tocorporate clients and medical evidence collecting services to life assuranceproviders, today issues an update on trading for the six months to 30 June 2007. The Group expects to report that turnover for the six months ended 30 June 2007will be £4.16 million (2006: £2.26 million for the half year and £4.35 millionfor the year) with profit before tax of £123,341 (2006: £56,000 for the halfyear and £120,518 for the year). This result will mean that the Group is oncourse to meet full year market expectations. 2006 was an extremely busy year for Company Health with the opening of a newoccupational health headquarters in Gateshead, the restructuring of the Groupand the acquisition of Cheviot Artus and Cheviot Artus Skipton in December.These achievements have begun to contribute in 2007 which has seen organicgrowth across the Group. We have acquired a number of new blue chip clientswhile at the same time broadening our geographical reach in both the public andprivate sectors. The first half of 2007 is the first full six months of contribution from CheviotArtus (Skipton) and Cheviot, our occupational health and occupational healthcarerecruitment acquisitions (made in December 2006). Both businesses are now beingintegrated into the Group providing not only new revenue streams and furtherregional coverage but also useful complimentary services and assistance toexisting businesses. Company Health is also pleased to announce the appointment of George Gonzalez asChief Executive. George has been familiar with Company Health for sometimehaving been Group Finance Director and a non executive member of the Board since2005 as well as Finance Director of one of the subsidiary companies since 2001.He is a qualified Chartered Accountant and has a wealth of experience in M&A andbusiness development. Prior to working with Company Health George was a partnerat Morgan, Brown & Spofforth, the private accountancy practice which floated in2002 and became Vantis plc. Commenting on the news Ralph Gough Executive Chairman said: "It is satisfying toshow that Company Health is demonstrating such clear organic growth and is ontrack for achieving predicted full year results. The past few months have been abusy time for us and it is satisfying that our recent acquisitions are alreadycontributing to the Group. I am delighted that George is now our ChiefExecutive. I am looking forward to working with him in due course to build uponCompany Health's achievements of late." George Gonzalez, Chief Executive added: "I am excited to have this new andchallenging role within Company Health. Having been associated with the Groupfor some years now I feel I have an advantageous position from which to assumethe role of Chief Executive. I am confident we can develop Company Health in thecoming months and years, seeking new acquisition opportunities and enhancing ourexisting services and customer bases." Additional DisclosureIn the previous five years George Gonzalez has been a partner of Audit Assure(now part of HLB Vantis Audit plc), in relation to which he is no longer apartner. Save for the information disclosed above, there is no other information inrelation to George Gonzalez required to be disclosed pursuant to AIM Rule 17. - ends - For further information please contact: Ralph Gough, Chairman Jim McGeever, Director Simon Hudson / Clemmie CarrCompany Health Group HB Corporate Tavistock CommunicationsTel: 020 7553 8820 Tel: 020 7510 8598 Tel: 020 7920 3150 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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