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Southern Cross sales rise

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Date: Monday 12 May 2008

LONDON (ShareCast) - Care home operator Southern Cross said total revenues in the first half of the year rose 28.2% to £431.2m, as demand for its services grow.

"With demand for our services increasing as the UK population ages, we are confident that Southern Cross is well placed to make further progress which is reflected in the re-basing of our interim dividend," said chief executive Bill Colvin.

Adjusted core earnings for the half-year period ended 30 March 2008 rose 41% to £30.8m. Fee increases were higher than company expectations, it said, as the number of beds increased 14% to 37,084.

Its interim dividend has been re-based by 50% to 3.75p, “reflecting the group's confidence in future growth.”

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