(Sharecast News) - Social care provider CareTech said its first-half performance was in line with market expectations as both revenues and margins were "stronger" than they had been a year earlier.
CareTech, which said it was on track to deliver a total of ?5m in pre-tax profit synergies for the year ended 31 September, also confirmed its final dividend of 7.95p per share despite the "unprecedented times" in which it was trading.
The AIM-listed group also stated it continued to have a strong active pipeline of investments in new properties and bolt-on acquisition opportunities and added it would look to deploy free cash flow whilst remaining committed to reducing net debt/ EBITDA in the medium-term to under three times.
CareTech highlighted that the negative financial impact to date of Covid-19 had been minimal so far and said it does not foresee that changing despite uncertainty surrounding the pandemic.
As of 1300 BST, CareTech shares were up 5.41% at 390p.
28 Apr 2021 16:07