Townsville Bulletin Friday 27th November

TONY RAGGATT - Townsville Bulletin

LISTED Townsville dental management group 1300SMILES has warned of pain for investors from ``pumped-up, over-leveraged'' consolidators looking to make a quick buck from the industry.

1300SMILES managing director Daryl Holmes gave the dire warning at the group's annual meeting in Townsville yesterday, saying the company was doing everything it could to protect itself and its shareholders from any ''collateral damage''.

''The fact that certain companies in our market are willing to pay outrageous prices for dental practices - far more than they can ever be worth, in my view - is likely to lead to pain for investors in those companies at some point in the future,'' Mr Holmes said.

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