LONDON (Alliance News) - Social care services provider CareTech Holdings PLC on Tuesday said its pretax profit dipped in the year to the end of September due to higher amortisation and administrative costs, as revenue edged higher.
The group said its pretax profit for the year to September 30 was GBP9.4 million, down from GBP12.5 million the year before due to the group booking higher amortisation costs and due to a sharp uplift in administrative expenses.
Revenue rose to GBP124.3 million from GBP123.3 million as the group increased overall capacity in its estate and made two acquisitions over the course of the year to expand its services.
The company will pay a final dividend of 5.60 pence, up from 5.40p, taking its total dividend to 8.40p, up from 8.00p.
"I have no doubt that the next few years will see continuing growth and care excellence which will help deliver our target of double digit earnings per share growth going forward," said Executive Chairman Farouk Sheikh.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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