StockMarketWire.com - CareTech said annual performance was in line with market expectations as the acquisition of Cambian had delivered a 'substantial' increase in revenue and earnings compared with the same period last year.
Trading for the year ended 30 September 2019 was in line with market expectation, with earnings (EBITDA) margins meeting market expectations as margins of the Cambian business showed considerable improvement when compared to the same period last year, the company said.
CareTech added 56 new beds, while reconfigurations reduced capacity by a net 11 beds, the company said.
Blended and mature occupancy of 87% and 92% respectively compared 'favourably to the last full year trading update (30 September 2018: 86% and 93% respectively),' the company added.
At 9:46am: [LON:CTEC] ConvaTec Group Plc share price was +0.53p at 182.53p
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