CCGP Claimar Care

    RNS Number : 2500X
  Claimar Care Group PLC
  23 June 2008
   

    For Immediate Release                                                                                             23 June 2008

    Claimar Care Group PLC ("Claimar Care" or the "Group")

    Trading update 


    Trading update

    In conjunction with the preparation and independent review by Claimar Care's auditors of its interim results for the six months ended 31
March 2008, which will be released on 30 June 2008, Claimar Care has undertaken a detailed review of current trading and expected
performance for the full year, ending on 30 September 2008. 

    Claimar Care is one of the UK's leading providers of domiciliary, high dependency and acquired illness care services to local
authorities, Primary Care Trusts and the NHS. The Group's main activities are generic older persons services delivered by Claimar Care
Limited, complex care delivered by the Complete Care Group, a franchise business, SureCare, and a training business, Primary Care Training.

    The detailed review has identified a number of factors which have started to impact the Group materially over recent weeks:

    *     Complete Care has experienced a delay in entering into of a number of new complex care contracts, and the Board is not confident
the resultant shortfall will be recovered by the financial year end;

    *     The Group has not yet been able to recover from local authorities the increased cost of providing its care services, including in
particular the increased costs of fuel, in addition to costs associated with the working time directive; and

    *     The conversion rate of applicants for franchises from SureCare has fallen away significantly as a result primarily of the
tightening of the credit markets, which has impacted the ability or willingness of applicants to meet the upfront franchise payments.

    Taking into account the above factors, the Board anticipates that, whilst turnover and pre tax profit will exceed the equivalent prior
year numbers, earnings per share will fall below those of the prior year and be materially below current market expectations.

    Notwithstanding the current trading, the Board continues to believe, against the background of an ageing population and the wishes of
many elderly people to live in their own homes, that the Group has good prospects.

    Appointment of Group Finance Director

    Claimar Care is announcing separately today the appointment of Mr Nick Townend, ACA, as Group Finance Director. He will join the Group
Board on 11 August 2008.
      
    Non- Executive Chairman John Crabtree commented:

    "Although the Board is highly disappointed that we do not expect Claimar Care to meet market expectations for the full financial year,
we continue to be optimistic concerning the long term outlook for the business, supported principally by the ageing population and the
increasing number of elderly people choosing to be cared for at home rather than in a residential or nursing home environment.


    Note: Claimar Care Group plc will announce Interim Results for the six months ended 31 March 2008 on Monday 30 June 2008. A briefing for
analysts will be held on the day at 9.30am at the offices of Winningtons Financial PR.  


    Enquiries: 

    Mark Hales, Chief Executive 
    Claimar Care Group plc                Tel: 0121 410 4080 

    Chris Fielding/Steve Douglas
    Arden Partners plc                        Tel: 020 7398 1638 

    Paul Vann/Tom Cooper 
    Winningtons Financial                   Tel: 020 3043 4162


This information is provided by RNS
The company news service from the London Stock Exchange
 
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