Caretech says H1 was in line with expectations after increasing bed capacity

15th Apr 2015 11:50

Social care services group Caretech said on Wednesday that its half year results were in line with expectations.During the period, the group increased their capacity by 25 beds, in order to enhance margins.However, it reduced its net capacity to 18 within fostering, owing to changes in the number of people on its register unable to foster children.Furthermore, Caretech improved its occupancy levels in the mature estate to 93% frin 92%.The group welcomed John Ivers as its new chief operating officer. Ivers was previously chief executive at Sage Healthcare and chief operating officer at HC One.Panmure analysts said his appointment sees "considerable experience brought in-house".The broker added: "We continue to believe that Caretech, a market leader in the provision of healthcare in the UK, should be a core holding for small-cap investors."Shares were down 0.82% to 241.5p on Wednesday at 12:14.