CareTech Holdings PLC - London-based social care services provider - Reports robust financial performance in the financial year that ended on September 30, in-line with market expectations, representing double digit revenue and earnings before interest, tax, depreciation and amortization growth. CareTech says adult's services capacity decreased to 2,104 as at the end of September from 2,140 on March 31, primarily due to the closure of one Coveberry service. Children's services capacity, meanwhile, increased to 2,000 from 1,981, primarily due to six new developments opening, increasing beds by 18.
In addition, the company says Nasir Quraishi and Jeremy Wiles have been promoted to the position of group executive director - adults services and group executive director - children's services, respectively, replacing John Ivers' role as chief operating officer. Ivers will continue with the company in the newly created role of strategic executive director.
Current stock price: 642.50 pence
Year-to-date change: up 23%
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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