26th Oct 2015 08:18
LONDON (Alliance News) - Social care services company CareTech Holdings PLC Monday said trading in its recently ended year was in line with market expectations.
According to forecasts provided by Morningstar, Panmure Gordon expects CareTech to report a pretax profit of GBP22.4 million for the year to end-September, whilst WH Ireland and Canccord Genuity both expect it to report a pretax profit of GBP22.5 million.
CareTech's performance was boosted by its acquisition of Spark of Genius Ltd in July, which helped bring its capacity at the year-end to 2,116 places, up from 2,074 places a year before.
Occupancy levels in its mature estate improved to 93% from 92% a year before.
The company said Spark of Genius progressed well in its first months within the group, and the business is trading in line with its expectations.
CareTech will announce its full year results in early December.
Shares in CareTech were down 0.4% at 244.00 pence Monday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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