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Trading Statement - Replacement

6th Oct 2010 12:48

RNS Number : 9582T
Synergy Health PLC
06 October 2010
 



Wednesday 6 October 2010

 

Synergy Health PLC

("Synergy" or "the Company")

 

Trading Update - Amended Version

 

This announcement replaces that issued at 07:00hrs this morning. The words 'per annum' have been deleted from the sentence which previously read: "As anticipated, the bid pipeline is improving and new contract wins have added £60 million per annum to the forward order book."

 

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 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 of 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

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
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