News blog
Supporta
- BY: Andrew Hore |
- POSTED: 23/01/2008 |
Home care and professional services provider Supporta says that its full year profits will be disappointing.
Supporta believes that its operating profit for the year to March 2008 will be at least £2.95m, against £3.53m the previous year.
Net debt was £15.54m at the end of September. The acquisition of Hallam Healthcare in December was mainly financed by a placing at 38.25p a share. Even so much of that operating profit will be eaten up by interest charges.
The home care worker business is trading ahead of expectations. It is the professional services business that has the problems. The architectural services, data storage and engineering consultancy businesses have all disappointed. Supporta has made annualised cost savings in its professional services division of £1.7m. There have also been management changes.
The shares dived 8p to 29p. That means that the shares have halved in the past six months.
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