RNS Number:0681U
Claimar Care Group PLC
09 May 2008
Interim results and trading update
Interim results
Claimar Care, one of the UK's leading providers of domiciliary, high dependency
and acquired illness care services to local authorities, Primary Care Trusts and
the NHS announces that it will publish its interim results, in respect of the 6
months ended 31 March 2008, on Monday 30 June 2008.
Trading update
In general, the current financial year to date has been one of further progress
for Claimar Care:
*The group has been successful in winning two new contracts with an
aggregate value of approximately #13,728,000 during the expected five year
term of the contracts. One of the contracts has been awarded by an existing
local authority where we have been awarded a 50% increase in volume, the
other contract awarded is in Rotherham, a new client for the group. These
two contracts will add over 5,000 hours per week when they reach their full
value. On the other hand, we were unsuccessful in extending three other
contracts, in two cases because we considered the proposed fees to be
untenable; these three contracts represented approximately 1600 hours in
aggregate.
*Unfortunately, as anticipated in the 2007 annual report, we have been
unable to recover fully the increased cost arising as a result of the
working time directive.
*We completed the #33.1 million acquisition of Complete Care Holdings
Limited, a Shropshire based provider of bespoke care packages for the
severely disabled. Complete Care is experiencing encouraging levels of new
business.
*Primary Care Services, our training services provider, is experiencing
high levels of activity, new enrolments for its NVQ courses are in line with
our expectations; there remains a significant level of opportunity in this
area, in supplying services both to our group companies and other providers
in the market.
The Board anticipates that the interim results will represent a substantial
improvement over those of the prior year. It also anticipates, in light
primarily of the factors described above, that the performance for the year
ending 30 September 2008 will be broadly in line with current market
expectations.
Non- Executive Chairman John Crabtree commented:
"The group continues to make good progress and we continue to view its prospects
with every confidence".
Enquiries:
Mark Hales, Chief Executive
Claimar Care Group plc Tel: 0121 410 4080
Chris Fielding
Arden Partners plc Tel: 020 7398 1638
Paul Vann/Tom Cooper
Winningtons Financial Tel: 0117 920 0092
This information is provided by RNS
The company news service from the London Stock Exchange
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