Care UK posts 7% rise in full-year profit

Health and social care provider Care UK reported a 7% rise in full-year operating profit and a 13% drop in net debt.Adjusted operating profit, before non-recurring items and amortisation and impairment charges, increased to £38.9m compared with £36.4m last time on revenue, including share of joint venture revenue in 2008, up 20% to £410m. Adjusted profit before tax rose 25% to £28.1m. Adjusted basic earnings per share were up 13% to 31.46p.The board proposed a final dividend of 3.40p per share, an increase of 10%.'Policy reform generally is focused on the migration of services from hospital to community and social care solutions in order to improve care quality and reduce cost,' said chairman John Nash.'This is wholly aligned with Care UK's long term strategy and perfectly positions the company to drive exceptional levels of long-term growth.'