Hi dwayne pipe,
I have been looking at NHL with interest.
==========================================
Nova Health tips $4.5m to $5m profit, shares slump
10:50, Wednesday, 8 January 2003
Sydney - Wednesday - January 8: (RWE) - Nova Health Ltd shares
slumped today after the company said it expected net profit before
amortisation to be in the range of $4.5 million and $5 million for the
year to June 2003.
This equates to earnings per share of 6.2c to 6.8c.
The shares fell 13c to 56c in the first hour of trade on top of
yesterday's 5c fall.
The company warned this year's performance would be affected by
expected wage increases for nursing staff in Queensland and NSW, an
escalation of insurance costs, a declining margin on prostheses and
difficulties in negotiation between hospitals and some health funds.
"In addition, the company is dealing with a number of one-off
operational issues which, on their own, are not material but, in
aggregate, impact on performance in the short-term," directors said.
"It also remains to be seen what rises in insurance premiums
will be secured by the nation's health funds and what proportion of that
increase will be passed on to private hospital operators," they said.
The company said it believed there remained scope to generate
better returns going forward, including the full-year impact of the
recently-acquired Queensland facilities.
==========================================
What I am wondering, has it been oversold given its low P/E and the low volume of shares that has caused the slide recently?
As well, one of the directors has purchased on 3 separate occasions over the last few days.
Gregory John Farmer
9/1 purchased 275,000 @ .50
13/1 purchased 50,000 @ .53
14/1 purchased 25,000 @ .52
Total holdings: 6,225,000 after recent purchases.
Anyone have any views or comments on this one?
Cheers markco
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