Caretech keeps investors happy


Posted on October 1st, by editor in Caring Times. No Comments

By SUHAIL MIRZA, suhail_1mirza@hotmail.com

In December Farouq Sheikh, executive chairman of listed specialist care provider Caretech informed investors and the City that the company had delivered “another year of substantial progress with strong growth in revenues and underlying earnings”.

The financial highlights or the year ended 30th September were clearly impressive:

  • Turnover increased by 59% to £53.1m
  • EBITDA grew by 98% to £10.9m
  • Profit before tax grew by an impressive 63% to £5.4m
  • Adjusted earnings per share hiked from 8.17p to 13.7p

Placing the results in a longer term perspective demonstrates the robust character of the business. For example, in the three-year period from 2005-07 profit before tax (before exceptional items) has risen from £1.6m to £6.2m This represents a compound growth rate of 96% which is truly outstanding on any measure.

At the same time, earnings per share, a key measure for investors, has increased over this three-year period from 4.1p to





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