RNS Number : 2425J
Claimar Care Group PLC
01 December 2008
FOR IMMEDIATE RELEASE: 1 DECEMBER 2008
CLAIMAR CARE GROUP PLC ("Claimar" or "the Group")
PRELIMINARY RESULTS FOR THE YEAR ENDED 30 SEPTEMBER 2008
Claimar Care Group PLC, one of the UK's leading providers of health and social care solutions to people in receipt of care at home,
announces its final results for the year ended 30 September 2008.
HIGHLIGHTS OF THE YEAR
2008 2007
Turnover +135.8% �52.62m �22.32m
Operating Profit * +80.3% �4.67m �2.59m
Profit before Tax ** +38.5% �2.95m �2.13m
Profit after Tax *** +19.7% �1.64m �1.37m
Cash generated from operations +17.9% �2.31m �1.96m
Adjusted Basic Earnings Per Share ** -29.7% 4.26p 6.06p
Basic Earnings Per Share -75.2% 1.14p 4.59p
2008 is the Group's first full year of reporting under International Financial Reporting Standards (IFRS). The comparative figures for
2007 have been restated accordingly.
* Before depreciation, share based payment charge, amortisation, acquisition and IFRS conversion related costs, and fair value movement
on derivative financial instruments
** Before share based payment charge, amortisation, acquisition and IFRS conversion related costs, and fair value movement on derivative
financial instruments
*** Before amortisation and associated deferred taxation
Commenting on the results, John Crabtree, Chairman of Claimar, said: "Notwithstanding the level of growth achieved in the year, these
results are disappointing. Claimar experienced a number of challenges earlier in the year which led to a trading update in June. Since June
the Board has initiated and delivered on a number of key strategies which have strengthened the group's ability to respond to more
challenging environments now and in the future. With the expanded range of services now available within the group I believe that the
business is well positioned to benefit from the increasing demand for its services.
I am particularly pleased to welcome Pharmassured to the group, a business which we established in October to provide safer medication
management for service users and care workers.
I also wish to thank all of Claimar's staff for their hard work and commitment during what has been a difficult period."
On current trading and prospects, Mr. Crabtree added:-
"Trading in the current year has started well, the group is well positioned to benefit from the different sectors of social and health
care in which it participates. There is significant opportunity for the businesses within the group not only to increase substantially the
cross selling of their services to each other's customers but also for the core businesses themselves to expand organically. We believe we
are well placed to continue to grow in the current year".
Enquiries:
Mark Hales, Chief Executive
Nick Townend, Finance Director
Claimar Care Group plc Tel: 0121 410 4080
Chris Fielding, Director
Arden Partners plc Tel: 020 7398 1638
Tom Cooper/Paul Vann
Winningtons Financial Tel: 07768 807631 or 07971 221972
Chairman's Statement
Introduction
I am pleased to present the Group's results for the year ended 30 September 2008.
Performance in 2007/08
Despite stronger growth and structural changes to the business in the second half of the year, the full year results, whilst in line
with market expectations following a trading update in June, are disappointing.
2007/08 has nevertheless been another year of growth across many financial measures. Turnover increased from �22.32m to �52.62m and the
Group delivered operating profits (before depreciation, share based payment charge, amortisation, acquisition and IFRS conversion related
costs, and fair value movement on derivative financial instruments) for the year of �4.67m (80% higher than 2006/07) principally as a result
of acquisitions.
The Group achieved organic growth of 4.29%. Earlier in the year we notified the market that we had been awarded significant new or
increased contracts in Manchester, Rotherham, Leicester and Lancashire. In addition, since the trading update in June, we have won new
contracts in Norfolk, a new geographic region for Claimar, Leeds, and Leicester, and been successful in retaining existing contracts in St.
Helens, Lancashire, and Kirklees. There were no material contract losses in the period.
The Group as a whole continues to deliver against its strategy of growth organically, via acquisition and via the development of new
revenue streams.
Acquisitions
Two acquisitions were completed during the year, including our largest acquisition to date.
The acquisition of Complete Care Group was completed on 1 November 2007. Complete is a market-leading provider of bespoke full-time care
packages to adults and children with severe disabilities including acquired brain or spinal cord injury, cerebral palsy, multiple sclerosis,
muscular dystrophy and various other neurological illnesses.
The Ravenscroft group of companies was acquired in January 2008. Ravenscroft is a generic domiciliary care provider which, at the date
of acquisition, was delivering nearly 9,000 hours per week to Lancashire County Council via nearly 400 carers.
The two acquisitions were financed by placing 18.25m new shares at 137p each to raise �23m (net of expenses). The placing was achieved
at a minimal discount to the share price at the time, indicating a high level of shareholder support for the Board's strategy.
Banking Facilities
The Group has banking facilities of �25.5m in place. These comprise an �11m term loan (used to part fund the acquisition of Complete), a
�12m revolving credit facility (of which �2.095m is undrawn) to finance other acquisitions, and a �2.5m overdraft facility to fund working
capital.
The impact of the events outlined in our June trading statement and the lead time involved in generating a sufficient financial response
to them, has meant that, since our pre-close trading statement in September, it became clear that the Group would have been likely to breach
marginally its interest cover covenant at the end of December 2008.
We therefore held discussions with our bankers, RBS, who remain very supportive of the Group and its prospects, and renegotiated this
covenant test for December 2008. We do not now anticipate any breach of our banking covenants.
Dividend
Shareholders will be aware from our Interim Report for the six months to 31 March 2008 that there was no interim dividend payment (2007:
0.25p). The Board does not propose the payment of a final dividend for 2007/08 (2007: 0.5p) or an interim payment for 2008/09.
Board changes
As previously announced Nick Townend joined the group on 11 August 2008. I am pleased to say that Nick has settled in well and is making
a strong contribution on the Group's financial management and the strategic development of the Group's activities.
People
As always, I would like to thank all of our staff for their dedication and hard work during the year. In the care sector our services
are dependent upon the calibre of our workforce, who have worked tirelessly to deliver high quality care to service users, thereby
positively changing many people's lives.
Current trading and outlook
Trading in the current year has started well, the group is well positioned to benefit from the different sectors of social and health
care in which it participates. There is significant opportunity for the businesses within the group not only to increase substantially the
cross selling of their services to each other's customers but also for the core businesses themselves to expand organically. We believe we
are well placed to continue to grow in the current year
John Crabtree OBE
Chairman
Chief Executive's Report
The summary of the Group's activities set out below illustrates the range of services now offered by Claimar to people in receipt of
care at home. Importantly it also underpins the Group's strategy to achieve growth both organically and by making selective acquisitions of
complementary businesses within the health and social care sector, and by developing new revenue streams by cross-selling new services to
our growing service user base. We believe that this approach places us in a strong position to respond to changes in the way that services
are delivered across the sector.
Group activities now comprise:
� Claimar Care Domiciliary care (mostly to older adults)
� SureCare Domiciliary care franchising and medical alert devices
� Primary Care Training Health and social care training
� Complete Care High acuity care services
� Pharmassured Medication procurement and management
Despite the increase in turnover and operating profits achieved during the year, the group failed to deliver the level of organic growth
that had been planned with much of the growth having been achieved from acquisitions made. Overall, the group achieved only 4.29% growth
organically. An under- performance across the group with regard to recruitment and retention severely impacted our ability to grow.
Following our trading update in June significant restructuring took place which helped improve performance in the second half of the year.
The group benefited in particular from strong performances in the second half from Primary Care Training and SureCare our training and
franchise businesses.
In the June trading update, we notified the market of a number of factors which together were negatively impacting the business. Since
that trading update the Board has initiated a number of actions to improve performance, as detailed below.
Claimar Care
� Placed a temporary suspension on acquisitions to enable the management team to focus on the core business and deliver integration
synergies.
� Implemented an organisational restructuring, including the appointment of a Managing Director and an additional Operations
Director.
� Continued the roll out of a new rostering data base which will see all offices operating on one single platform.
� Created a standalone Quality & Compliance team, reporting directly to the Managing Director.
� Increased the focus on recruitment and retention activity led by the new Group HR Director.
� Introduced tighter cost controls and better provision of KPIs to allow better visibility.
Complete Care
� Implemented a management restructuring which has seen David Burton ,the Commercial Director, take over from Barbara Scandrett, who
has resigned from her role as Managing Director, but remains as a Non Executive Director of Complete Care.
� Renegotiated or relinquished loss making contracts.
� Introduced better recruitment processes and tighter controls regarding the use of agency staff, which has resulted in significant
cost savings over the last few months.
� Initiated closer links with other group companies around training provision to generate cost savings.
SureCare
� Restructured our offering to include a staged payment process, in order to combat the downturn in new franchise enquiries and
conversion of sales.
� Removed some costs, pending the availability of a new medical alarm due to be launched in January 2009.
Claimar Care
This year has seen a number of challenges for Claimar Care Ltd. The business suffered in the early part of the year due to an
underperformance in recruitment and retention, this in turn led to an inability to grow and put pressure on the core business. There were at
times operational issues due to management stretch as the company failed to integrate recent acquisitions properly.
In order to deal with the problems facing the business at that time we suspended acquisition activity to enable the management team to
focus on the core business, strengthened the management team with the appointment of North and South Operation Directors and refocused our
efforts on recruitment and retention. We have seen improvement in the second half of the year as a result of these actions. The final part
of the restructure will be completed on 1 December with the appointment of Mark Lavery as Managing Director of Claimar Care Ltd. Prior to
accepting this post Mark was the Managing Director of Celsion Healthcare and prior to this was the Managing Director of Allied Health Care.
In the second half of the year Claimar has benefited from a number of new contract wins, in both existing and new geographical areas, as
well as the retention of existing contracts that were due to expire and were retendered in the open market. This performance underlines
Claimar's ability to bid for, win and then deliver larger contracts, something smaller providers in the market are finding increasingly difficult to achieve.
As stated in previous announcements the market is changing, in particular the move to outcome focussed services, and in the future the
roll out of individual budgets and personal budgets will all benefit Claimar's business model.
Given the current economic environment and the Government's target level of efficiency savings over the next few years we believe that
whilst gross margin will continue to come under pressure, the size of contracts will increase as Local Authorities choose to work with
fewer, but larger providers.
There are significant savings for local authorities who outsource some or all of their service. According to the Laing & Buisson 2008
report on the domiciliary sector, on average Local Authorities in England incurred costs of �21.80 per hour which are now 68% more expensive
than the independent sector at �13.00 per hour.
Across England 78% of hours delivered and funded by Social Services were provided by the independent sector, and across those Local
Authorities that Claimar currently contracts with the average was 71% suggesting that there still remains a significant opportunity for more
work to be outsourced.
Despite budgetary pressures in the market, and a tightening of eligibility criteria, providers are still struggling to match supply with
demand caused by the increase in our ageing population. In many parts of the country we are aware that, despite funding having been approved
for service users by local authorities, those in need of a service are still placed on a waiting list whilst providers try to build the
required levels of capacity. It therefore follows that currently the only inhibitor for the growth of the business is its ability to
recruit and retain its staff, something that in the current climate of job losses in other sectors is already showing signs of improvement.
In summary with an improved and strengthened management team, improvements in our ability to recruit and retain staff, our reputation in
the market and our proven ability to manage larger contracts we believe Claimar to be well positioned to grow in 2008/09.
Complete Care
Complete Group continued to have a strong referral pipeline, although only benefitted from organic revenue growth of 7%, due principally
to an under performance in recruitment and retention. Profit was adversely impacted by substantially higher costs associated with the need
to use agency staff; this position has improved significantly in the second half of the year and is now in line with our expectations.
Complete Care has also diversified into other types of complex disability care which has contributed to the higher volume of referrals.
During the year the UK recruitment market has been extremely difficult, but during the last three months of the year the situation has
markedly eased with more candidates coming forward. Following the changes to the work permit regulations we have had to set up new
arrangements for the recruitment of staff from other countries. This took six months to set up but is now working well and supplying a
steady stream of candidates.
There is a great opportunity for Complete Care to expand geographically into the South West, North East and Eastern England and also to
build on their existing relationships with primary care trusts. The outlook for the next year is very positive.
Primary Care Training
Organic revenue growth from our training business was a very pleasing 165% in the year. Primary Care has rapidly grown to become a major
provider of learning and development in the healthcare sector. The past year has seen many changes and Primary Care now bears little
resemblance to the organisation that Claimar acquired in 2007.
The beginning of the year saw Primary Care move its head office from Cheadle in Manchester to share premises in Chester with another of
the Group's subsidiary companies, SureCare. The existing Claimar training department seamlessly took over the running of Primary Care's
external operation and the Group Training Manager became the Managing Director.
The start of the year also saw Primary Care identify a potential market to develop paediatric courses, primarily around the Ofsted
requirement for local authority Early Years teams, nurseries and child-minders to demonstrate knowledge of paediatric first aid. This
venture has seen the successful launch of this division of Primary Care and winning of the business of several Local Authorities. In 2008/09
we have strong indications that we will become the preferred provider for up to eight Local Authorities.
In March 2008 Primary Care obtained approval to sign-up learners in other geographical areas and since then the number of learners has
grown from 90 to over 500. A sustained recruitment campaign has grown the NVQ department to 22 staff including a dedicated recruitment /
sign-up team and back room staff responsible for supporting field based assessors.
In October the result of many months' work to pass the Learning and Skills Council's (LSC) stringent quality and financial tests
resulted in Primary Care being awarded a contract to deliver NVQ qualifications under the Government Train to Gain initiative in the West
Midlands. Primary Care immediately began a capacity building exercise to recruit the infrastructure for delivering qualifications in an
extremely competitive marketplace including the appointment of an NVQ contracts manager.
The increase in quality of our NVQ provision has been recognised in recent audit visits by City & Guilds and the LSC and we are
currently looking forward to show-casing our achievements at an Ofsted inspection in December. The take up of new candidates has resulted in
a new LSC contract and we are poised in 2008/09 to start recruiting learners from outside the Group.
The original Primary Care core portfolio of public courses, commissioned training and distance learning has been updated and refreshed
and now provides a strong platform on which to grow in 2008/09.
The scarcity of good quality training providers, particularly with such a wide portfolio of courses, gives Primary Care an excellent
opportunity for significant growth. As different areas of the business grow, so do the opportunities of cross-selling products to customers
who have purchased services.
In summary Primary Care Training begins 2008/09 with a stronger range of products, fully resourced to respond quickly to customer
demand, particularly in the NVQ division, and with a focussed sales function, with equipped professional marketing tools underpinned by a
more cohesive, ambitious strategy for growth.
SureCare
Organic revenue growth during the year for our franchise operation was 29% and has seen SureCare experience a balance of challenge and
success in continuing franchise operations, new franchise sales and the development of alarm services.
Despite recruitment difficulties and an increasingly competitive local marketplace the franchise network enjoyed considerable success
with their average revenues increasing by 23% in the period. Improvements in volume have been driven by the flexibility of the franchise
model and by the broadening of the range and nature of the services offered, with innovative approaches to service and supply relationships
being promoted and implemented.
The quality of services across the network has been enhanced through the commitment of our franchisees to meeting regulatory, corporate
and contractual obligations and through the delivery of services that meet outcomes for individuals. The process of improvements has
resulted in 85% of services being classed as "good" or "excellent" by our regulators. The business will continue to revise operating policy
and procedure with support being geared to maintaining and improving standards of compliance and service in a changing regulatory
landscape.
The franchise sales function of the business continues to be challenged by the wider economic conditions with the key aspects of the
operation being focused on the recruitment of new franchisees and the identification and drawdown of funding for each of the new businesses.
The franchise opportunity continues to be widely promoted. The revision of the franchise model mid-year, combined with the active sales
programme, has led to five new franchise territories currently being developed with an improvement in the number and quality of franchise
leads.
The development and promotion of our alarm and monitoring services have been adversely impacted by the continued delays in the design,
development and manufacture of new alarm units. We have continued to work with our technology partners and delivery of the new product will
be made in the first quarter of the year. It will have a range of features that significantly differentiate it in the marketplace and the
process of self-design and manufacture has resulted in UK exclusivity and an advantageous price-point. The launch of the new product and
associated services through the franchise and branch network combined with a new e-commerce facility forms an important part of our growth
strategy for the coming year and will serve to strengthen and broaden the portfolio of service that the business offers to both its internal
and external customers.
Pharmassured
Pharmassured, our newly created pharmacy division, has been developed through Claimar Care's in depth understanding of the domiciliary
care sector. Pharmassured, which began trading in November 2008, is a provider of tailored domiciliary pharmacy services that meet both
patient and carer needs exactly and by doing so aims to promote and support the increasing numbers of people, especially the elderly, who
wish to live independently.
Pharmassured will better manage the medication needs of vulnerable patients, particularly those on poly pharmacy treatments who receive
on average six or more different types of medication at any one time, by making medication simpler and safer.
Pharmassured, through dedicated people, processes and systems, is ideally placed to provide domiciliary pharmacy services to Claimar
Care's circa 7,000 service users and subsequently to market and provide domiciliary pharmacy services and carer support to other care
providers nationwide.
Summary
We are operating in a strong sector that is supported by strong demographics, and a stated Government strategy to provide care to more
people in their own homes as a more cost efficient way of delivering a service to an ageing population, but also one that benefits patients'
well being.
Current trading and prospects
Trading in the first two months of this financial year has been positive, with Claimar Care performing broadly in line with budget, but
Complete Care, SureCare and Primary Care all marginally outperforming our expectations. Whilst 2007/08 was disappointing, actions taken in
the second half of the year have placed the business in a stronger position to benefit in 2008/09 from the range of services it supplies.
The focus this year will be on leveraging the relationship between group subsidiaries, but also on providing our pharmacy and training
services to the wider market including external providers and commissioners.
Our focus in the current year will be to target significantly improved organic growth across the Group.
Mark Hales
Chief Executive
CONSOLIDATED INCOME STATEMENT
For the year ended 30 September 2008
2008 2007
�000 �000
Continuing operations
Revenue 52,617 22,318
Cost of sales (36,065) (14,055)
Gross profit 16,552 8,263
Administrative expenses (12,207) (5,908)
Operating profit before amortisation, IFRS conversion and 4,345 2,355
acquisition related costs
Amortisation of intangible assets (1,507) (243)
Profit on sale of freehold premises - 97
Re-organisation and restructuring costs (309) (359)
Professional fees related to aborted acquisitions (76) (5)
IFRS conversion costs (33) -
Operating profit 2,420 1,845
Finance income 23 64
Finance costs (1,467) (321)
Fair value movement on derivative financial instruments (77) -
Profit before taxation 899 1,588
Taxation (346) (394)
Profit for the year attributable to the equity holders of 553 1,194
the parent
Basic earnings per share 1.14p 4.59p
Fully diluted earnings per share 1.14p 4.54p
CONSOLIDATED BALANCE SHEET
At 30 September 2008
2008 2007
�000 �000
Non-current assets
Goodwill 42,921 18,818
Other intangible assets 14,823 3,571
Property, plant and equipment 963 689
Deferred tax asset 84 9
58,791 23,087
Current assets
Trade and other receivables 10,666 5,509
Cash and cash equivalents 362 630
11,028 6,139
Total assets 69,819 29,226
Current liabilities
Financial liabilities (4,592) (1,465)
Trade and other payables (4,491) (4,115)
Current tax liabilities (717) (287)
Derivative financial instruments (77) -
(9,877) (5,867)
Non-current liabilities
Financial liabilities (15,850) (8,395)
Deferred tax liabilities (3,510) (978)
(19,360) (9,373)
Total liabilities (29,237) (15,240)
NET ASSETS 40,582 13,986
Equity
Share capital 4,999 3,011
Share premium account 34,793 10,533
Share based payment reserve 92 47
Merger reserve (1,600) (1,600)
Retained earnings 2,298 1,995
EQUITY ATTRIBUTABLE TO EQUITY HOLDERS OF THE PARENT 40,582 13,986
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
At 30 September 2008
Share capital Share premium Share based payment Merger reserve Retained earnings Total
account reserve
�'000 �'000 �'000 �'000 �'000 �'000
At 1 October 2006 2,232 3,255 17 (1,600) 988 4,892
Total recognised income and - - - - 1,194 1,194
expense
Dividends paid - - - - (187) (187)
Share based payment reserve - - 30 - - 30
movement
Issue of shares in the year 779 - - - - 779
Premium on allotment during - 7,278 - - - 7,278
the year
At 30 September 2007 3,011 10,533 47 (1,600) 1,995 13,986
Total recognised income and - - - - 553 553
expense
Dividends paid - - - - (250) (250)
Share based payment reserve - - 45 - - 45
movement
Issue of shares in the year 1,988 - - - - 1,988
Premium on allotment during - 24,260 - - - 24,260
the year
At 30 September 2008 4,999 34,793 92 (1,600) 2,298 40,582
CONSOLIDATED CASH FLOW STATEMENT
For the year ended 30 September 2008
2008 2007
�000 �000
Cash flows from operating activities
Cash generated from operations 2,312 1,962
Finance income 23 64
Finance costs (1,467) (321)
Corporation tax (1,081) (813)
Net cash flows from operating activities (213) 892
Cash flows used in investing activities
Acquisition of subsidiaries net of cash acquired (33,669) (14,122)
Purchase of property, plant and equipment (337) (232)
Proceeds from sale of property, plant and equipment - 189
Payments in respect of previous acquisitions (1,286) (973)
Net cash flows used in investing activities (35,292) (15,138)
Cash flows from financing activities
Proceeds from issue of share capital 23,955 7,058
Proceeds of long-term borrowings 9,655 7,544
Repayment of obligations under finance lease liabilities (50) (51)
Payment of dividends (250) (187)
Net cash flows from financing activities 33,310 14,364
Net (decrease)/increase in cash and cash equivalents (2,195) 118
Cash and cash equivalents at beginning of year 177 59
Cash and cash equivalents at end of year (2,018) 177
NOTES TO THE CONSOLIDATED FINANCIAL INFORMATION
For the year ended 30 September 2008
1. ACCOUNTING POLICIES
The financial statements have been prepared in accordance with International Financial Reporting Standards (IFRS). The principal
accounting policies of the Group have remained unchanged from those disclosed in the Group's IFRS compliant Interim Report for the six
months ended 31 March 2008.
2. TAXATION
2008 2007
�000 �000
(a) Analysis of charge in year
Current tax:
UK corporation tax on profits of the year 843 439
Adjustment in respect of previous year - (60)
Total current tax (see (b) below) 843 379
Deferred tax:
Origination and reversal of timing differences (497) 15
Taxation on profit on ordinary activities 346 394
(b) Factors affecting tax charge for year
Profit on ordinary activities before taxation 899 1,588
Profit on ordinary activities at 29%/30% 261 476
Effects of:
Expenses not deductible for tax purposes 128 22
Amortisation of customer lists/brands 437 68
Depreciation for year in excess of capital allowances 10 14
Brought forward losses utilised (13) (125)
Marginal relief on subsidiary undertakings acquired 20 (16)
Adjustment in respect of previous year - (60)
Total current tax 843 379
3. DIVIDENDS
2008 2007
�000 �000
Equity ordinary
Interim paid: Nil per 10p share (2007: 0.25p per 10p share) - 112
Final paid in respect of previous year: 0.5p per 10p share (2007: 250 75
0.5p per 10p share)
Total dividends paid in the year 250 187
The Directors do not recommend that a final dividend be paid in respect of the year ended 30 September 2008.
4. EARNINGS PER SHARE
Basic earnings per share are calculated by dividing the profit after tax for the financial year by the weighted average number of shares
in issue for the year. The weighted average number of shares in issue used in the basic earnings per share calculation may be reconciled to
the number used in the diluted earnings per share calculation as follows:
2008 2007
Number Number
Basic earnings per share denominator 48,521,112 26,019,013
Issuable on conversion of options 53,593 292,048
Diluted earnings per share denominator 48,574,705 26,311,061
To understand the underlying trading performance the directors consider it appropriate to disclose earnings both before and after share
based payment charges, amortisation of intangible assets, acquisition and IFRS conversion related costs, and fair value movements on
derivative financial instruments ("adjusting costs"). This note also therefore presents additional adjusted earnings per share information
on that basis as follows:
2008 2007
�000 �000
Earnings attributable to shareholders 553 1,194
Adjusting costs (net of taxation) 1,513 383
Adjusted earnings attributable to shareholders 2,066 1,577
Basic earnings per share 1.14p 4.59p
Adjusted basic earnings per share 4.26p 6.06p
Fully diluted earnings per share 1.14p 4.54p
Adjusted fully diluted earnings per share 4.25p 6.00p
5. The abridged financial information set out above does not constitute the Group's statutory accounts defined under Section 240 of the
Companies Act 1985. The auditors have not yet made a report under Section 235 of the Companies Act 1985 on the financial statements for the
year ended 30 September 2008 from which the financial information is extracted, and consequently full accounts for the period have not yet
been filed at Companies House.
Full accounts for Claimar Care Group PLC for the year ended 30 September 2007 have been filed at Companies House. The report of the
auditors on the accounts for Claimar Care Group PLC for the year ended 30 September 2007 was unqualified and there was no statement under
either section 237(2) or 237(3).
This announcement was approved by the Board of Directors on 30 November 2008.
The Annual General Meeting of the Company will be held on 20 January 2009 at 12.00pm at 40 Vicarage Road, Birmingham B15 3EZ.
The Annual Report and Accounts is being sent to all shareholders and will be available to the public from the Company's registered
office.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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