City File: Good health

INVESTORS in the healthcare sector will feel a bit battered by the events of the past year or so. But there are still some good stories and Intercare, which makes motor-powered wheelchairs and distributes medical supplies, is one of them.

The shares performed strongly last year on the back of spectacular growth. This outperformance has slowed, and last week BZW cut its forecast for the year to October to pounds 4.5m, because of worries about margins. But even on this prediction, the shares, at 187p, only trade at 17.6 times earnings. So Intercare may be a decent long-term bet.