Ludlow reports boost in turnover

Growth in occupancy and a rise in users across its services helped boost turnover at Ludlow Street Healthcare Group Ltd by 5.6% to £39.3m in the year ended 30 April 2017, from £37.2m in 2016.

The provider in specialist assessment, treatment, rehabilitation and education services for young people and adults with mental disorders, severe mental illness, acquired brain injury and learning disabilities saw its cost of sales rise 9.2% to £28.3m during the period (2016: £25.9m).

This resulted in the company’s pre-tax profit slipping to £3.6m, from £4.7m the year previous, while EBITDAR fell to £5.7m from £6.9m.

Ludlow said that the positive turnover result was offset by the introduction of the national minimum wage.

During the year, four community homes were extended to provide additional beds for those stepping down from its larger services in a community setting.

Its strategic report said that ‘significant capital investment’ was made on the group’s properties in South Wales.