red = 25dma
green = 50 dma
black = 200 dma


The Telegraph says the banks like Southern Cross Healthcare, and so it seems to have an almost endless supply of new capital. It recently secured �300m to fund acquisition plans. It also develops its own sites and hopes to add 1,000 beds this year. A good operator with a proven model, Southern Cross is well worth buying.

annual reports etc available from www.schealthcare.co.uk


have just bought for myself at 355

Southern Cross denies bid approach
| | |


LONDON (ShareCast) - Southern Cross said it has received no approach relating to an offer for the company nor is the board seeking to procure one.

However, the care home group said it has received "general enquiries" from a number of parties (Advertisement)

regarding the company's current situation.

Southern Cross shares added more than 25% today on rumours that private equity buyers are eying the company.

"The board of the company remains focused upon the potential sale of certain of the care home property assets currently held on balance sheet and necessary amendments to its existing banking arrangements to reflect the changed circumstances which now face the company," said the group.

"A further announcement regarding progress of these matters will be made in due course," it added.

Shares in the care home group plunged at the end of last month as it warned of a breach of bank covenants, poor trading and the departure of its finance director.

back at the end of June, SCHE announced .....

the Company, which is working closely in partnership with its banking syndicate, has been granted an extension to the repayment date and a waiver of an anticipated non-compliance with a financial covenant until 28 July 2008. This period will allow the Group to pursue the potential sale of some or all of these assets and/or suitable amendments to its overall longer term funding arrangements. A further announcement will be made in due course.


it is now 24th July, so is no news just no news?

70p now.

SCHE seems to be moving in the right direction again, I was tempted this morning but missed the initial rise, will have another look tomorrow, I know a few on here liked this one in the past.

Results were out today.

This is looking dire...haven't followed it for 2 years.

wow! glad i haven't held this for a long time, but wish i'd been short!!

are they heading for the knackers yard?

not sure, but given their reliance on local gov't contracts and similar, it sure doesn't suggest a buy

cynic debt is their problem banks getting impatient sales falling should be a short.

couldn't disagree though i may not do so

cynic Brewin Dolphin downgrade to sell target 10p.

thanks hali ... may react to that .... fyi, took out a small short on WOS just before lunch - see thread for why

Potential offer on the table.

hmm! i was seriously contemplating shorting this one having called CNT correctly, but i now note that ubs have just increased their stake to 6.2%, so perhaps the reverse is a better call

A much quality company than most.

One of the turkeys of 2011...

Among FTSE All-Share constituents care home operator Southern Cross Healthcare was the worst performer, plunging 86% on the year, as losses mounted and the company relied on the support of its bankers.

Losses in the year to September climbed to 47.4m from 19.8m, on sales of 959m, up from 937m. That did not bode well for a company likely to be squeezed by local authority budget cutbacks.

Landlords of Southern Cross are considering asking other operators to take over the running of some of its homes after the company sought to negotiate a freeze or cut in rents, The Times reported on Friday.

The board has been approached by other parties expressing potential interest in the group, so someone must believe the business is worth buying, though at what price is unknown.

sorry, I meant 2010.

Mitzy

This will be 600p in two years , am buying shed loads .

aldwickk

Hay mas tiempo que vida..

life is too short to worry.