Thursday, 27 November 2008

Advanced Computer Software maiden interim results

(By Anthony Miller) We noted the launch a few months ago of Advanced Computer Software, in effect the result of a reverse-in by Out of Hours hospital software specialist Adastra into AIM-listed shell, Drury Lane Capital, engineered by Elderstreet ‘dynamic duo’ Michael Jackson and Vin Murria (see OoH…Vin is back!). With me so far? Good! Well, Advanced reported its first results in its new guise for the eight months to August ’08, with pro forma revenues of some £8m. Obviously this is still very early days for Advanced, which aims to become “a leading provider of software and services to the primary care and unscheduled sectors of the NHS” via acquisition plays like Adastra. As we said at the time, if anyone can pull off a consolidation play in the primary care area, Vin can. By the way, Advanced shares are pretty much where they stood at the August placing, around 17p, valuing the company at about £33m.

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