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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Parkwood Hldgs. | LSE:PKW | London | Ordinary Share | GB0006816549 | ORD 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 41.50 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
Parkwood Holdings plc ("Parkwood" or "The Group") TRADING STATEMENT UPDATE Latest company estimates for the year ending 31 December 2003 indicate that Parkwood's profits will be below expectations. The Directors now expect that net profits before tax of just over £1 million will be achieved, and that the full year dividend is likely to be unchanged from the 2.2p per share paid last year. Losses in the Group's Healthcare business have declined in the second half, but not to the extent anticipated when Parkwood's interim results were announced on 15 September 2003. At the same time new contracts in the Group's "green" business, Glendale, that commenced earlier in the year in London and the South-East have performed less well than expected and delays in signing the Leisure PFI's have affected the planned commencement of such operations; with the contract in the London Borough of Bexley only starting in September, and three other projects which all have preferred bidder status yet to achieve financial close. Although this news is disappointing the Group is encouraged by its review of the strategy for the years 2004 and 2005 which shows sales growing strongly accompanied by a recovery in profits as new business opportunities in which the Group has invested during this year come to fruition. The Group's order book, which increased to £220 million at the half year, is set to increase further by, or shortly after, the year-end. For further information please contact: Parkwood Holdings plc Tony Hewitt, Executive Chairman 01772 627111 Notes for Editors; Parkwood Holdings plc specialises in providing outsourced service to the public sector across England and Wales under long term contracts. Its three main areas of operation are as follows: * Glendale - The management of parks and open spaces for a predominantly local authority client base. This operation is currently being expanded into related "green" businesses under the "Think Green - Think Glendale" logo. * Parkwood Leisure - The management of a diverse range of leisure facilities, again predominantly for local authority clients. This Division is also the beneficiary of most of the Group's contracts won under the PFI/PPP procurement process. * Parkwood Healthcare - The provision of non emergency patient transport to NHS Trusts under the "National Ambulance Service" banner, together with the provision of nurses on an agency basis to a similar client base. END
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