Updates

Caretech - Spitting distance of 1,500 beds

January 2010

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

Full year results to 30 September were excellent with pretax profit up 45% to Â£15.3m on sales up 23% to Â£83.4m, partly reflecting the impact of the 2008 acquisitions and that of Lyndhurst in 2009. Eps were up 26% to 27.1p.As we said in our previous write-ups Caretech has already substantially strengthened its regional infrastructure to support the short term objective of 1,500 beds. Little new investment is needed to support the additional beds and this is seeing operating margins climb strongly. During FY09, bed capacity lifted by 122 to 1,430, of which 97 were organic and 25 came from Lyndhurst. With utilisation remaining high, operating margins have jumped sharply once again from 25.5% in 2008 to 27.3%.Caretechâ€ ...

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James Fisher

Alternative Networks - Cashflow remains strong

Caretech (November 2012)

CareTech - Foster care division takes off (August 2012)

Caretech - Gain since January tip: 41% (May 2012)

Caretech - Looking dirt cheap (January 2012)

Caretech (December 2011)

Caretech (May 2011)

Caretech (February 2011)

Caretech (November 2010)

Caretech - Rating has never been this low (July 2010)

Caretech - Significant acquisition opportunities (March 2010)

Caretech (November 2009)

Caretech - Margins go through the roof: 24.3% H109 vs 22.9% H108 vs 18.8% H107 (September 2009)

Caretech - Exciting move into psychiatric care (July 2009)

Caretech (April 2009)

Caretech - H1 margin surges to 22.9% as operational gearing kicks in (July 2008)

Caretech - Returns to acquisition trail (June 2008)

Caretech - Operational gearing comes barrelling through (May 2008)

Caretech - Well ahead of original expectations (January 2008)

Caretech - Organic growth ahead of expectations (November 2007)

Caretech (September 2007)

Caretech - 1,500 bed target (July 2007)

Caretech (January 2007)

Caretech - Buys 13 new care homes (December 2006)

Caretech - Seems likely to be trading ahead (November 2006)

CareTech (July 2006)

Caretech - Number of beds up 69% since IPO (June 2006)

Caretech (May 2006)

Caretech (January 2006)

Caretech Holdings - High growth and defensive (November 2005)

With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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