News blog
Supporta
- BY: Andrew Hore |
- POSTED: 24/06/2008 |
Supporta reported flat profits for 2007-08.
The home care and professional services provider recently turned down a bid approach from Romac Investments.
The care division continues to grow and management describes that market as “extremely buoyant” and it expects to be involved in the consolidation of the care market. The description of trading is much more positive than indicated by the trading statement from Claimar Care, which is involved in this business.
The professional services division was hit by a poor performance by its architectural practice and a £770,000 exceptional write-down.
Even if exceptional and amortisation charges are stripped out, profits edged up from £2.47m to £2.63m in the year to March 2008. Revenues grew from £42.7m to £50.8m. The order book is 33% higher at £108m.
Net debt is £20m and banking facilities have been renegotiated.
Supporta hasn’t decided whether it should continue to run the two separate divisions or split them up. It would be difficult to get a full valuation for either business if it were sold at the moment.
Supporta’s focus is on growing the care business.
The shares were unchanged at 30p, valuing Supporta at £25.9m.
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