In 2017, pretax loss narrowed to
Profit performance was helped by a dramatic fall in finance costs from
Adjusted pretax profit - excluding exceptional items - swung to
Cambian reinstated a final dividend of
During the year, Cambian paid
"2018 will be a year of consolidation and we will continue to invest in the systems and support for our staff necessary to deliver on our plans to return, in a measured fashion, to capacity led growth," Cambian Chief Executive Officer Saleem Asaria said.
"The year has started broadly in line with the Board's expectations taking into account the temporary setback following the current affairs television programme, in December 2017, and further investment in quality and workforce capability," Asaria added. "Our focus this year is to continue to improve quality whilst re-positioning services to higher severity with corresponding fee increases."
In December, three of its specialist children's care facilities were subject to a television programme in which it was alleged the company had provided poor care and education services.
"We remain confident for the medium-term outlook and the group's longer-term potential, while in the short-term we expect to continue to make progress in 2018 and look forward to the future with confidence," Asaria concluded.
Shares in Cambian were 6.0% lower at
