Caretech Holdings, PLC (LON: CTH), a specialized social care service provider in the UK, has released their interim biannual earnings report for the 6-month period ending March 31, 2017. The figures give a promising outlook for Caretech.

After Panmure Gordon reiterated a “buy” rating for CareTech stock in April, along with a “corporate” rating by FinnCap in May, CareTech is ‘staying the course’ of expert opinion with the recent release of their financials. Being that any and all financial indicators for CareTech is recorded in GBP, or Great British Pounds, I will be reporting all numbers translated in US Dollars.

By comparison, revenues have gone up 11.3% from $90.2-million to $100.4-million since last year with underlying EBITDA increasing by 8.3%. Diluted earnings per share increased almost 2 points by 11% and shows positive growth. Dividends were announced in early May and have increased 10% on Dividends Per Share. Operating Profits decreased by 28.5%, but this is mainly attributed to a $7.1-million profit on sales of fixed assets in 2016.

“We are pleased to report an impressive performance for the first half of 2017 which delivered year on year growth in revenue, underlying EBITDA, underlying profit before tax and underlying EPS.” Said Executive Chairman of CareTech, Farouq Sheikh. Sheikh further explained developments, acquisitions and initiatives CareTech believes will “lead to a sustained growth in capacity and revenues which will generate additional EBITDA and cash so that the Group can achieve its target of double digit growth annually in underlying diluted earnings per share.”

Recent acquisitions of Spark of Genius, Oakleaf Care and ROC North West has helped expand CareTech’s holdings, ambitions and goals while facilitating the needs of millions of patients in need of medical and social care.

 “The continued provision of first-class social care which represents good value and is focused on successful service user outcomes will remain the main market driver for CareTech’s continuing growth.”

As should all business models.