Heavy losses for Care UK

Care UK Health and Social Care holdings reported a loss before taxation of £62.9m for the year ending 30 September 2012 – further to the £75.9m lost in 2011. Revenues remained a healthy £487.5m (2011: £445.7m). Cost of sales and administrative expenses were £412.6m and £64.4m respectively (2011: £375.9m: £76.9m) leaving an operating profit before financing expenses of £10.5m (2011: £7.1m). Following financial expenses of of £73.4m, including interest payable on senior secured notes, revolving credit facility, 2018 loan notes, and 16% cumulative preference shares, the business made a pre-tax loss of £62.9m (2011: £75.9m).