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CareTech profits rise as revenue increases 11%

By BFN News | 08:56 AM | Thursday 14 June, 2018


CareTech reported Thursday underlying profit rose 5.3% in the six months through March, compared to the same period a year ago, supported by an 11.2% jump in revenue. In the six months ended 31 March, underlying profit rose 5.3% to £13.8m from £13.1m, revenue rose 11.2% to £87.6m and underlying earnings (EBITDA) rose 6.6% to £19.5. The company said the CareTech Foundation launched its first partnerships with Barnados, British Asian Trust and Skills for Care. The interim dividend increased by 6.1% to 3.50p per share, from 3.30p the same period a year ago. Cash inflows from operating activities were £15.8m, up from £11.5m. The firm said its strong pipeline of organic additional beds in reconfigured services and in new services would lead to a growth in capacity and revenues. This would also support additional EBITDA and cash growth, helping the firm achieve its target of double digit growth in underlying diluted earnings per share in the medium term. At 8:56am: (LON:CTH) CareTech Holdings PLC share price was +4p at 383p Story provided by StockMarketWire.com

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