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July 26, 1994

CLINICAL COMPUTING ISSUES HORRIFIC SET OF INTERIMS AND QUICKLY GOES TO GROUND

By CBR Staff Writer

London-based medical software developer Clinical Computing Plc couldn’t have made a much worse start in life as a public company, yesterday announcing its first interim results since its February flotation, and showing a big loss on slumping sales. The figures were so bad that the shares plunged 32 pence to 68 pence when the market opened, and for a time prices shown were indicative, meaning that market makers were not obliged to trade at the prices they were showing. Clinical’s turnover plunged to ?740,000 from ?1.18m this time last year and it made a ?23,000 loss against a profit last time of ?45,000. The company’s statement said that major investment and delays in customers placing orders caused a reduction in turnover which resulted in the loss, but everybody at the company was closeted in board meetings all day yesterday and no-one was available to shed any further light on a deeply embarrassing maiden set of interim figures. The company was valued at ?20m at its flotation price of 124 pence a share and has been up to 186p.

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