Assura “well positioned” for growth
Assura Group says it expects its results for the year ending 31 March 2011 to be ahead of expectations after the acquisition of AH Medical Properties.
In a statement to the London Stock Exchange this morning, the Birmingham-based primary healthcare property and pharmacy company said its pharmacy business continues to perform well, with revenue from wholly-owned pharmacies likely to exceed £33m in the year to 31 March 2011, up from £31m in 2010.
However, Assura said margins since 30 September 2010 have been affected by NHS price cuts, and the company is looking at further efficiency savings to offset this.
Assura also revealed its expects to open several new pharmacies in the next 18 months, however, it says it is considering the possible divestment of its LIFT consultancy business, which it no longer believes to be part of the core business in the longer term.
Rodney Baker-Bates, chairman of Assura, said: "Over the last year Assura has made significant progress including the sale of its 75 per cent stake in Assura Medical to Virgin, the substantial overhead reductions achieved and the important acquisition of AHMP. As a result, Assura is a more focused, leaner and financially stronger business capable of paying dividends and well positioned for further growth."
