CareTech profit more than doubles in H1 as revenue grows

Thu, 17th Jun 2021

Social care and education services provider CareTech reported first-half profit that more than doubled as revenue was boosted by the acquisition of Smartbox, the portfolio of assets transferred from The Huntercombe Group and fee increases. For the six months ended 31 March 2021, pre-tax profit jumped 140% to £42.3 million as revenue increaseed 16.5% to £243.0 million. The interim dividend was increased to 4.6p from 4.0p last year. 'Underlying trends remain positive for the Group and we are well placed to offer high quality care to our service users which represents good value to Commissioners. We are confident in meeting market expectations for the full year,' the company said. Story provided by

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