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Avia Health Informatics

  • BY: Andrew Hore |
  • POSTED: 05/08/2011 |

Healthcare software developer Avia Health Informatics is short of working capital because of poor trading in the year to March 2011 and the shares have been suspended.

Revenues are below expectations even though Avia has announced a number of contract wins in recent months.

The shares were suspended at 45p each. Avia is valued at £2.5m. Avia raised £558,000 at 50p a share back in March.

The lack of cash has caused uncertainty about the financial position of the business. Avia has no borrowings and directors and staff may put more money into the company.

Nigel Leavy stood down as part-time finance director in July. He remains a non-executive.

House broker Panmure Gordon had forecast a loss per share of 2.56p in the year to March 2011 and then a move into profit in the current year.

Download the July 2011 edition of AIM Journal at http://www.hubinvest.com/AIMPDFJuly2011_22.pdf

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