Flat financial year for Carewatch

Homecare and assisted living service provider Carewatch Holdings Limited has reported revenues of £51.5m for the year ended 31 December 2012. This marks only a slight increase on the previous year’s £50.5m. Due to a small rise in the cost of sales, the Lyceum-capital backed business, currently the second largest homecare provider in the UK, posted a loss before interest and tax of £2.7m (2011: £1.9m). After interest of £6.1m pre-tax loss of £8.8m was posted (2011: loss £9.9m). The company provides an estimated 200,000 hours of care per week through 48-company owned branches and 91 franchises. Chief executive Phil Pegler said: Network turnover (the combined turnover of our company owned and franchise branches) has remained fairly flat during 2012 reflecting the continued budgetary pressures experienced by local authorities across the UK.’