Annual Reports

26th January 2008 - Sutherland Health Group Research

Sutherland Health Group (SHG) formerly Sexual Health Group (renamed October 2008) is a UK based supplier of sexual health and patient hygiene consumable items to NHS Acute and Primary Care Trusts. Recent interims were positive; sales up 25.6% alongside a 5.4% improvement in gross margins to 48.8%. We are forecasting positive EPS of 0.2p for FY 2010.

FY 2009 is expected to see growth trends firming up as two key drivers fall into place; the expansion of the product mix/ client expansion coupled with pricing strength in existing and new markets. We are forecasting FY 2009 will see net losses of £100k with profitability emerging in FY 2010 as scale economies impact margin performance.

In 2008 Sutherland Health started a small device and diagnostic capability alongside consumable items. The group introduced Pre-Operative Razors, the Condomania Ultrasound Probe Covers and the Vision hCG pregnancy midstream diagnostic. The kit/ device expansion compliments the existing range and can be sold via existing distribution channels and the NHS Supply Chain Catalogue.

George Sutherland, CEO of Sutherland Health holds 58.45% of the shares and bought 75k shares in December at 2.25p ps on price weakness. Majedie Investments Plc is an institutional holder of 6.3% of Sutherland Health.

Capitalised at £1.4m, the valuation of Sutherland Health is 30% of its market capitalisation on its IPO. On a number of metrics including (price/ sales 1.6x) Sutherland is inexpensive. The market is not reflecting Sutherlands improved margin performance (H1 48.8% v 43.4%) and consolidation prospects in 2009. The board is committed to adhering to corporate governance principles and effective shareholder communications.

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31 March 2008 - Sexual Health Group PLC, Financial Statements

Dear Shareholder,

I am pleased to report on the progress of the Company in what has been an other active year of  growth.

Highlights 

- Sales growth of 17.7% to £711,386
- Gross margin increased from 44.2% to 45.1%
- Losses reduced by 24.3 % to £ 173,991
- Customer service level up from 98% to 99%

The last twelve months has seen your Company progress on several fronts. We have seen a continued growth in sales whilst being able to improve gross margin, contain our costs, see a continued improvement in customer service and support, and have new products added to NHS Contracts, leading to another year of significant progress, with a further reduction in losses, ensuring that we are well on the way to a profitable future.

Activities

April 2007
The Sutherland Health division signed a 2-year contract to supply Patient Requisites and Personal Hygiene Products with NHS England. The contract, which commenced 1 April 2007, is effective until 31 March 2009 with an option to extend for a further period of 12 months. The products supplied have already been developed by the Company and are currently distributed within English NHS Trusts.

The Sutherland Health division also signed a 2-year contract to supply Pre-Operative Razors with NHS England. The contract, which commenced 1 April 2007, is effective until 31 March 2009 with an option to extend for a further period of 24 months. The Pre-Operative Razor is currently distributed within a limited number of English NHS Trusts.

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For further information on the Company visit www.sexualhealthgroup.com

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