The Sensible HCEG Thread.

And here we have the truth. The company does not expect to make a profit.

Why on earth did it take them so long to issue this?

LONDON (AFX) - Healthcare Enterprise Group PLC said it does not expect to
make a profit in the current year to February 2006 after it slipped into the red
in the first half.
The company also announced that executive chairman Stuart Bruck is stepping
down, to be replaced by Mark Tomkins. Finance director John Bradshaw is also
leaving the group.
Healthcare Enterprise suffered an operating loss before exceptionals of 2.1
mln stg in the six months to Aug 31, compared with a profit of 311,000 in the
same period last year.
There was a pretax loss of 2.3 mln stg, down from a profit 362,000 stg.
The company blamed the losses on delays in integrating Crest Medical,
acquired in November 2004, as well as delays in winning contracts for its
medical sterilisation kit Ebiox and the cost of obtaining regulatory approvals.
The company said it has begun action aimed at returning the business to
profit by the early part of next year.
It also said it continues to review its assets to maximise shareholder value
and cash generation.
Healthcare Enterprise expects to get regulatory approval for Ebiox from the
US Environmental Protection Agency (EPA) in the first half of the next financial
year and separate state approvals later that year.
It has incurred significant costs in obtaining EPA approval, in order to
secure US distribution agreements which are expected to generate revenue in the
second half of next year.
Healthcare said its new High Level Disinfectant product has successfully
undergone in situ trials and it has now started commercial discussions with
potential global partners.
Progress on the development of the disposable endoscope Optiscope is good
and the company expects to have prototype products next spring.