Sutherland Health Group Trading Update

13th May 2014

 

 13 May 2014

 

SUTHERLAND HEALTH GROUP PLC

 (“Sutherland Health Group” or “the Company”)

 ISDX Symbol: SHGP

 TRADING UPDATE AND CONTRACT WINS

 

The Board of Sutherland Health Group, a national supplier of personal care, patient hygiene, sexual health and gynaecology products to customers including the National Health Service (“NHS”), announces today its unaudited management results for the year ended 31st March 2014 and three contracts recently won.

FINANCIAL REVIEW
 
Performance for the second six months of the financial year was ahead of our expectations and represents an increase in turnover of 18.5% over the second six months of the year to 31 March 2013. The unaudited management results show the full year sales figure to 31st March 2014 was GBP796,827 (2013; GBP1,044,413) a reduction of 23.7% versus the same period to 31st March 2013. The company in its interim results to 30 September 2013 reported its turnover was down 45% at that stage.
 
Unaudited management results show pre-tax losses of GBP48,997 for the period to 31st March 2014 (2013: Profit GBP36,580).

CONTRACT WINS
 
The Board are pleased to inform its shareholders of some recent contract wins with the NHS.

Obstetrics & Gynaecology
 
The Group’s Condomania division has been awarded a framework agreement to supply NHS Trusts in England with Obstetric & Gynaecological Sundries and Accessories for a period commencing 24th December 2013 to 23rd December 2016 with the option to extend for a further 12 months. The contract has enabled 10 products to be added to our range currently supplied including some of the products from Lansinoh who we recently signed a distributor agreement with.

Toiletries
 
The Group’s Sutherland Health division has been awarded a contract to supply 6 products on a toiletries contract to Health Boards in Northern Ireland commencing 1st February 2014 for a period of three years with an option to extend for a further period up to 24 months.
 

Family Planning – Condoms

The Group’s Condomania division has been awarded a contract to supply condoms on a contract to supply NHS Health Boards in Wales commencing 1st February 2014 for a period of three years.
 
Chairman John French commented “It was pleasing to see with the growth in turnover that the second half of the financial year brought to the year ending 31st March 2014 that the company’s position improved considerably from that reported at the interims. We are delighted that we have been able to win these new contracts with the NHS who remain an important part of our business whilst we continue to develop and strengthen our business with other sectors outside of the NHS”

---ENDS---
 
The Directors of the Issuer accept responsibility for this announcement
 

Enquiries:
 

Sutherland Health Group Plc

John French, Chairman
T: 07836 722482
 
Jon Isaacs
Alfred Henry Corporate Finance Ltd
T: 0207 251 3762

Notes to Editors:
 
Sutherland Health Group Plc is a national supplier of personal care; patient hygiene, sexual health and diagnostic products to the UK National Health Service (NHS) and other UK customers. Its aim is to supply innovative solutions to current health issues by studying current trends and working alongside leading professionals who also work within the health sector.
 
The company is committed to developing and marketing high quality brands and products that will benefit health professionals and consumers alike in many areas of health. The Group has established its own brands: Condomania® Condoms; Sutherland® Patient Hygiene and Personal Care; Lubricating Jelly; and Vision® pregnancy and gynaecology diagnostics. These products have already become established within the NHS business.
 
The Group is ISO and MHRA registered, and at present principally manufactures and operates within the United Kingdom.
 
For further information on the Company visit www.sutherlandhealth.com

 

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