Looks like PTL is going bust, and not a moment too soon. What a sad indictment that there are people wishing that this wretched company goes out of business, however it could have taken action earlier and stop the rip-off. I guess greed followed greed followed greed. Plenty of media reports today.
http://www.hemscott.com/news/comment-archive/item.do?id=29483<<
Patientline reports a
pretax loss from continuing operations of £32m, split equally between an operating loss and exceptional items, in the year to 30 March. The underlying loss has shot up from £10.4m to £15.1m.
The figures look pretty sickly despite extensive restructuring over the past 12 months and the company admits that it still needs to get borrowings down to a sustainable level.
Chairman Geoff White claims Patientline has a clear strategy after closing its loss making US operations and raising £7.5m from selling the Continental Europe arm. It has also withdrawn from loss making hospitals in the UK.
However, we feel it is ominous that
revenue per terminal per day declined by 6.4% to only £1.62, continuing a three-year slide from £1.97 in 2004.
[...]
We really don’t see how Patientline can get out of this mess despite the best endeavours to turn the company round. Neither does the stock market, where
Patientline’s sickly shares slipped another 1.125p to 2.375p this morning.
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