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CareTech revenues grow following Cambian acquisition

Wed, 01st May 2019 10:33

(Sharecast News) - Social care and education services business CareTech traded in line with expectations throughout the first half of the year, turning in a "substantial increase" in revenue and EBITDA driven by its acquisition of Cambian.CareTech turned in a performance ahead of the same period a year earlier on Wednesday, with EBITDA margins in line with market expectations in its core business and a "considerable improvement" on the same margins at Cambian.The AIM-listed outfit told investors on Wednesday that its integration plan for the combined business was "well underway" following the unconditional clearance issued by the Competition and Markets Authority on 8 February and confirmed that synergies of at least £3m worth of pre-tax profits in the first full year since acquisition were on track to being delivered.CareTech more than doubled its net debt to £297.5m in the half, reflecting the cash consideration and associated financing necessary for its Cambian acquisition.Chairman Faros Sheikh said: "I am pleased to report that CareTech's trading performance for the half year is in line with market expectations. The integration of Cambian is well underway and we are delivering all of our key objectives, including the delivery of the synergies we set out in our plan."Elsewhere, analysts at Liberum retained their 'buy' rating and £5.25 target price for CareTech, saying the firm was "far too cheap".Liberum's Graham Doyle said: "The market doesn't believe the 55% EPS growth, the 60% NAV uplift or the 33% de-leveraging that we forecast by 2022."Delivering this should be rewarded and today's trading update is another data point that provides confidence that management will do just that. If the market does not reward this then we see scope for management to return up to 40% of the market cap in cash to shareholders over the same period given the underappreciated strength of the balance sheet."As of 1030 BST, CareTech shares were flat at 333p.
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3 May 2022 08:53

CareTech trades 'broadly in line' amid staffing pressures

(Sharecast News) - CareTech said in an update on Tuesday that group performance for the first half was "broadly in-line" with its expectations, despite Covid-19 causing some staffing pressures.

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29 Apr 2022 21:19

IN BRIEF: CareTech suitors gain extended deadlines to seal offer

CareTech Holdings PLC - London-based social care services provider - Sheikh Holdings gains further deadline to 725 pence per share offer to acquire CareTech Holdings to 1700 BST at May 30.

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27 Apr 2022 16:06

UK dividends calendar - next 7 days

Thursday 28 April 
4imprint Group PLCex-dividend date
AEW UK REIT PLCex-dividend date
AVI Japan Opportunity Trust PLCex-dividend date
Bakkavor Group PLCex-dividend date
Carr's Group PLCex-dividend date
Coats Group PLCex-dividend date
CQS Natural Resources Growth & Income PLCex-dividend date
CQS New City High Yield Fund Ltdex-dividend date
Derwent London PLCex-dividend date
Drax Group PLCex-dividend date
Ecofin Global Utilities & Infrastructure Trust PLCex-dividend date
Fresnillo PLCex-dividend date
Henderson Far East Income Trust PLCex-dividend date
Hikma Pharmaceuticals PLCdividend payment date
HSBC Holdings PLCdividend payment date
Kenmare Resourcesex-dividend date
LSL Property Services PLCex-dividend date
M&G PLCdividend payment date
M P Evans Group PLCex-dividend date
Mobius Investment Trust PLCex-dividend date
Morgan Advanced Materials PLCex-dividend date
Morgan Sindall Group PLCex-dividend date
Mortgage Advice Bureau (Holdings) PLCex-dividend date
Northamber plcdividend payment date
Porvair PLCex-dividend date
Reckitt Benckiser Group PLCex-dividend date
Rightmove PLCex-dividend date
Sabre Insurance Group PLCex-dividend date
Sabre Insurance Group PLCspecial ex-dividend date
Schroder Oriental Income Fund Ltdex-dividend date
Secure Income REIT PLCex-dividend date
Smart Metering Systems PLCdividend payment date
St James's Place PLCex-dividend date
Synthomer PLCex-dividend date
Tate & Lyle PLCspecial ex-dividend date
TT Electronics PLCex-dividend date
Tyman PLCex-dividend date
XP Power Ltddividend payment date
Friday 29 April  
BlackRock Sustainable American Income Trust PLCdividend payment date
BMO Private Equity Trust PLCdividend payment date
CLS Holdings PLCdividend payment date
European Assets Trust PLCdividend payment date
European Smaller Cos Trust PLCdividend payment date
GlobalData PLCdividend payment date
Greggs PLCspecial dividend payment date
Henderson High Income Trust PLCdividend payment date
ICG-Longbow Senior Secured UK Property Debt Investments Ltd dividend payment date
Lowland Investment Co PLCdividend payment date
Martin Currie Global Portfolio Trust PLCdividend payment date
Quartix Technologies PLCspecial dividend payment date
Quartix Technologies PLCdividend payment date
RIT Capital Partners PLCdividend payment date
RM PLCdividend payment date
Shires Income PLCdividend payment date
Troy Income & Growth Trust PLCdividend payment date
Value & Indexed Property Income Trust PLCdividend payment date
Monday 2 May 
no events scheduled 
Tuesday 3 May 
DS Smith PLCdividend payment date
Mercantile Investment Trust PLCdividend payment date
Volution Group PLCdividend payment date
Wednesday 4 May 
British American Tobacco PLCdividend payment date
CareTech Holdings PLCdividend payment date
JPMorgan Claverhouse Investment Trust PLCdividend payment date
Manchester & London Investment Trust PLCdividend payment date
NatWest Group PLCdividend payment date
Segro PLCdividend payment date
  
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14 Apr 2022 17:46

CareTech says would be "minded to recommend" new bid from founders

(Alliance News) - CareTech Holdings PLC on Thursday said it would back a potential new bid by its founders.

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14 Apr 2022 09:50

CareTech ready to recommend sweetened Sheikh offer

(Sharecast News) - CareTech confirmed on Thursday that its co-founders had sweetened their offer to take the company private, as the battle between the Sheikh brothers and asset management firm Dbay Advisors continued.

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13 Apr 2022 17:42

TOP NEWS: CareTech founders propose sweetened takeover tilt

(Alliance News) - CareTech Holdings PLC suitor Sheikh Holdings Group (Investments) Ltd upped its takeover proposal for the London-based social care services provider, matching an offer made by DBAY Advisors Ltd last week.

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4 Apr 2022 12:26

IN BRIEF: Logistics Development notes DBAY approach for CareTech

Logistics Development Group PLC - London-based Investment company formerly known as Eddie Stobart Logistics PLC - Notes that DBAY Advisors Ltd, Logistics Development's investment manager, makes an indicative proposal to CareTech Holdings PLC regarding a possible all cash offer.

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4 Apr 2022 11:19

AIM WINNERS & LOSERS: i3 rises on record production; XLMedia CEO exits

(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Monday.

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4 Apr 2022 10:19

DBAY Advisors submits proposal for possible offer for CareTech

(Alliance News) - DBAY Advisors Ltd on Monday said it submitted an indicative proposal for a possible all cash offer for CareTech of 750 pence per CareTech share.

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4 Apr 2022 08:43

DBay enters battle to take CareTech private

(Sharecast News) - DBay Advisors entered the fray in the battle to take CareTech private on Monday, announcing a higher possible offer than the Sheikh brothers' upgraded proposal.

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1 Apr 2022 13:27

IN BRIEF: Logistics Development buys further 974,130 Caretech shares

Logistics Development Group PLC - London-based Investment company formerly known as Eddie Stobart Logistics PLC - Buys 974,130 ordinary shares in Caretech Holdings PLC at an average price of GBP6.95 per share, paying a total of GBP6.8 million. Says that following the transaction it is interested in 1.9 million Caretech shares, representing 1.7% of Caretech's share capital.

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1 Apr 2022 09:58

CareTech founders make improved proposal to take it private

(Sharecast News) - CareTech announced an improved possible offer for the company on Friday, as its co-founder brothers continued their plans to take it private.

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1 Apr 2022 08:41

LONDON BROKER RATINGS: Citi upgrades Bridgepoint and Lancashire

(Alliance News) - The following London-listed shares received analyst recommendations Friday morning and Thursday:

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10 Mar 2022 20:33

IN BRIEF: Logistics Development buys shares in Caretech Holdings

Logistics Development Group PLC - AIM-listed cash shell - Snaps up 1 million shares in Caretech Holdings PLC at GBP6.335 per share, for a total of GBP6.3 million. Company's first investment since becoming an investing company and is consistent with its investing policy, it says. Logistics Development now holds 0.9% stake in Caretech.

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7 Mar 2022 13:36

UPDATE: CareTech independent directors prepare for takeover offer

(Alliance News) - Sheikh Holdings Group Investments Ltd said on Monday it was in the early stages of a possible takeover offer for CareTech Holdings PLC.

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