30th Apr 2014 14:48
LONDON (Alliance News) - Recently listed Cambian Group PLC said that it had traded in line with expectations for the first quarter to end-March.
The health service provider, which listed in April, said that its revenue for the quarter had been 8% ahead of the previous year. Its earnings before interest, tax, depreciation and amortisation margin improved over the previous year.
Cambian also strengthened its portfolio by acquiring the New Elizabethan School and three MENCAP colleges in March, it said.
The company has GBP200 million in debt facilities, which it said includes GBP50 million of undrawn facilities for organic growth and acquisition purposes.
Cambian said that it believes its trading will strengthen in 2014, particularly in the second-half as it benefits from acquisitions.
Shares in Cambian were trading down 0.3% at 225.25 pence Wednesday afternoon.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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