1300SMILES (ONT) $2.70 from www.theaustralian.com.au

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Nov272009

Fri, November 27, 2009

CRITERION: Tim Boreham - The Australian - November 27, 2009 12:00AM

Excerpt: "Holmes's 1300Smiles has 17 multi-dentist surgeries in Queensland (and Tweed Heads). It brushed off the economic downturn with a 74 per cent net profit leap to a record $3.8 million in the year to June 30, on a 47 per cent revenue surge to $22.4m.

Holmes says the key is not the number of practices, but the number of dentists per practice.

"Dental overheads are huge," he says. "There's exponential profit once you get past two to three dentists (per practice)."

Criterion rates 1300Smiles a buy on the back of its impressive earnings record, but there are only 21 million shares on issue."

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Source: 1300Smiles (ONT) $2.70

by Tim Boreham at The Australian on November 26, 2009

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