Preliminary Results 2004

Company news

Nov 23, 2004

Year ended 30 September 2004	2004	2003
Â	£000	£000
Turnover	140,639	117,882
Operating profit*	15,686	**10,343
Profit before tax*	11,681	**6,872
Profit before tax	10,696	**6,268
Undiluted earnings per share*	15.36p	**9.54p
Dividends:	Â	Â
Final	2.10p	1.90p
Total	3.05p	2.80p

* before goodwill amortisation of £985,000 (2003: £604,000)
** after Revenue Investment in Development Projects of £2997,000

Care UK, the specialist health and social care solutions provider, is pleased to report continuing strong growth in turnover, operating profit and earnings

*Growth during the year:

* Residential:-
Hammersmith & Fulham and Croydon contracts signed
New preferred bidder appointment by Birmingham City Council
Four new homes commissioned successfully
Acquisition of Althea Park, specialist mental health service provide
* Community:
Unprecedented Homecare new contract success with thirteen new awards
Learning Disabilities contracts with Aberdeen, West of Scotland and Staffordshire
* Clinical:
Trent/South Yorkshire and Plymouth Independent Sector Treatment Centre ("ISTC")contracts signed
Interim services for Trent/South Yorkshire commenced successfully
First entry into the primary care market with a contract in Southend/Rochford

* Total forward contracted turnover up 25% (as at 30 September 2004)
Residential Care Services £576m
Community Care Services £54m
Clinical Care Services £82m
* Total Residential Care occupancy level continuing at around 98%

John Nash, Chairman of Care UK, commented:-

"Care UK is recognised as an innovative and reliable partner working across a range of health and social care services. The breadth of solutions that we are able to deliver is likely to become increasingly important as public sector commissioning adopts a more integrated approach across the care continuum.

A continuing high level of contracted income and a significant number of new projects underpin Group prospects for the medium term. Over and above this robust foundation, the Board is confident that the Group will benefit further from the extensive opportunities that will come from continued public sector commissioning from the private sector".