Excelcare profit drop

Excelcare Holdings reported a 43.2% rise in revenues but profits plummeted for the care home provider in the year ended 31 March 2017. Turnover stood at £29.1m, compared to £20.3m the previous year. Cost of sales rose to £18.1m (2016: £11.9m) along with administrative expenses to £10.1m (2016: £6.5m), leaving an operating profit of £0.6m,…