14th Feb 2007 07:00
CareCapital Group plc14 February 2007 Embargoed until 0700, 14 February 2007 CareCapital Group Plc ("CareCapital" or "the Company") NOTICE OF RESULTS AND ADOPTION OF IFRS- CareCapital Group Plc (AIM: CARE), the healthcare real estate company, willreport preliminary results for the year to 31 December 2006 on Wednesday, 28February 2007. The Company's accounts for the year to 31 December 2006 will be reported usingInternational Financial Reporting Standards. Under International AccountingStandard 40, investment property must be recognised in the accounts at fairvalue, with revaluation gains and losses being taken directly to the incomestatement, as well as being reflected in the balance sheet. At an operational level the Company expects its results will be in line withmarket expectations. However, there will be an uplift in valuation to theCompany's property portfolio which, under IFRS, will result in a non-cash itemappearing on CareCapital's income statement for the period. Current marketforecasts are calculated under UK GAAP and as such, under IFRS CareCapital'searnings will be ahead of market expectations. For further information please visit www.carecapital.co.uk or contact: Tavistock Communications: 020 7920 3150Richard Sunderland or Simon [email protected] Daniel Stewart & Co. PlcLindsay Mair, Director - Corporate Finance 020 7776 6550 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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