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Interim results for the six months ended 31 March 2005

May 23rd 2005

Six months ended 31 March 2005 interim 2004 interim
  £m £m
Turnover 79.1 64.0
Operating profit* 7.5 6.2
Profit before tax* 5.1 4.4
Profit before tax 4.5 4
Undiluted earnings per share* 6.63p 5.77p
Interim dividends per share 1.03p 0.95p

*before goodwill amortisation of £623,000 (2004: £453,000)

Continued strong growth
 

  • Turnover up by 24%
     
  • Operating profit up 20% (26% excluding start-up Clinical Care division)
     
  • Profit before tax up by 15%
     
  • Total forward contracted income now £713m

Business development success in all four divisions:
 

  • Residential Care - appointed preferred bidder for Poole;
     
  • Community Care - contracts won for homecare equivalent to 6% growth; acquired Seymour Care;
     
  • Specialist Care - won contract for learning disabilities in Lancashire; acquired FSG (foster care provider);
     
  • Clinical Care - appointed preferred bidder for North East London ISTC contract; Maidstone ISTC expected to reach financial close shortly; negotiations commenced for Commuter Walk in Centres.

John Nash, Chairman of Care UK, commented:
"We are encouraged by the new business success that has been achieved in each of the four operating divisions, together with continued good operational performance.

"Both Care UK, as well as the Independent Sector Treatment Centre joint venture, Partnership Health Group, have a number of new facilities and contracts to implement during the coming months. The key management challenge is to maintain current growth momentum whilst ensuring continuing focus on successful project implementation.

"Care UK's strategy is proving to be well founded and we anticipate a flow of further opportunities during the coming years."

 

 

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