CTH.L Share News (CTH)

LONDON (Alliance News) - CareTech Holdings PLC on Thursday said its trading for the full year has been in line with expectations, with a stronger performance on all of its key financial metrics.

The social care services provider said its trading in the year to September 30 has met expectations, ahead of publishing its results for the year in December.

The company said it has brought 63 additional beds into capacity over the year, adding the beds are making a higher contribution than their predecessors as part of an ongoing plan at the group to increase its margins.

Overall, its net capacity fell over the year, down to 2,074 places from 2,116 the year before. It said 12 of the places were withdrawn for reconfiguration into new care models, while 30 places were removed in supported living. A further 63 beds were removed in its fostering arm due to changes in the number on its register able to foster children.

Occupancy levels in its mature estate were maintained at 92%, with blended occupancy at 86%.

CareTech shares were up 3.1% to 233 pence on Thursday.

By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance

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