Transcation costs hit Tracscare profits

In the financial period before it was sold by Sovereign Capital to G Square Healthcare Private Equity (CCMn June 2014), Tracscare experienced a marginal rise in revenues for the year ended 31 March 2014. The complex care provider achieved a turnover of £19.2m (2013: £18.7m). After the deduction of cost of sales of £10.2m (2013: £9.8m) and administrative expenses of £6.3m (2013: £6.1m), it recorded an operating profit of £2.6m (2013: £2.7m). Costs incurred in relation to the sale of the business and management re-structuring of £311,000 (2013: n/a), and interest charges of £812,000 (2013: £933,000), left Tracscare with a pre-tax profit of £1.6m (2013: £1.8m).