CareTech trading in line as it navigates Covid and lockdowns

Social care and education services provider CareTech said on Tuesday that its trading in 2021 to-date was in-line with its and the market's expectations, and it had successfully maintained its “proactive approach” to managing the impact of the Covid-19 pandemic.

The AIM-traded firm, which was holding its annual general meeting, said its priority was the safety, health and wellbeing of its employees, and on continuing to deliver a “high quality service” to those in its care

Executive chairman Farouq Sheikh said that, following on from previous announcements, all operational sites were still open in the current lockdown and, in the absence of routine regulatory inspections, the group had “effectively reinforced” the management of quality and care governance functions, keeping to its high standards.

“CareTech's financial position remains robust with strong cash generation being deployed across a growing pipeline of development opportunities across the group, as well as continuing to de-lever in line with stated targets,” Sheikh said.

At 1052 GMT, shares in CareTech Holdings were flat at 542p.