Healthcare Locums in dire straits
The fragile financial state of Healthcare Locums, which provides healthcare staff, was finally laid bare by these results. Despite a reduction in its crippling debt pile – from £104m to £26m – through selling £20.3m in assets and raising £60m in August's placing, the group's auditors could well raise questions about the company's ability to continue as a going concern. That's before getting to the issue of whether some past dividend payments were actually legal. With that backdrop, the shareholders should sell.
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By Julian Hofmann,
04 April 2012