Shares digital

A Q1 trading statement from Southern Cross Healthcare (SCHE) saw revenue up 29.6% to £262.6 million, and boosted the shares 11% to 407p. Occupancy averaged 89.8%, reflecting lower rates over winter, but demand for UK care home services remains strong. The group also secured an additional banking facility of £30 million with Barclays (BARC) to finance future developments. Broker Investec has lowered its target price from 760p to 510p but remains a buyer.

Shares says: The shares are starting to recover following a recent slide. RR