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Caretech

May 2011

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.

  • Epic Code:
  • CTH
  • Price:
  • 135p
Caretech has issued an in-line trading update ahead of H1 results in the second week of June. During the period, Caretech added 121 places to 1,930, with occupancy of 92% in mature homes and an 87% group average. However, it said it is seeing some fee pressure across the marketplace and some authorities have requested fee reductions. Net debt is now down to £122m, which is not that high given the freehold backing and that in the short-run it will scale back acquisition spend. Brewin Dolphin has shaded its eps forecast for the year to 30 September to 27.1p with 29p next year. We think the shares are unmarried but not unloved and with the longevity of its income stream, expect a bidder to pop up before too long. ...

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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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