LONDON (Thomson Financial) - Nestor Healthcare Group Plc. said its first
half results are in line with management expectations even though profits
shrank.
The company said pretax profit in the six months to June amounted to 3.4
million pounds against 5.6 million pounds a year earlier.
The Social Care business has delivered a much improved margin on revenues
slightly down in a difficult market and steady progress is being made in
improving its performance, while the Primary Care business is facing a market
that is undergoing significant change, the company said.
It said prospects for its Primary Care business are positive and by the time
full year results are announced many of the current tender opportunities are
expected to be finalised.
The company said in light of the first-half earnings reduction the board
does not propose to pay an interim dividend against 1 penny paid a year earlier
and the final dividend will be considered when the full year results are known
and the prospects for 2009 have been considered.
Nestor Healthcare also said previously announced talks on the potential sale
of part of the group continue but there can be no guarantee that agreement will
be reached.
It also said the company is negotiating with its debt providers about
suitable facilities going forward and expects to make an announcement in
September.
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