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Date: Wednesday 15 Oct 2008

LONDON (ShareCast) - Trading at specialist care provider CareTech is in line with expectations and the acquisitions of Beacon Care and Valeo are performing better than forecast.

The firm increased its capacity by 279 beds, with acquisitions making up 182 of those. Occupancy in established services continues to run at 94%, in line with previous years, it said.

“We are very pleased to announce that the group is trading in line with market expectations and with the continuing growth from both organic development and acquisitions,” said executive chairman Farouq Sheikh.

“CareTech has long term revenue streams which provide highly visible earnings. Growth opportunities remain good within the highly fragmented markets in which we operate.”

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