Voyage Care reports positive Q3 growth

Andrew Cannon, chief executive, Voyage Care

Growth in registered and community-based care operations helped Voyage Care post a 7.4% rise in revenue in the three months to 31 December 2018.

In its latest trading update, revenue rose to £63.4m in the third quarter period, up from £59m in Q3 2017/18.

Revenue across its registered care homes was up by 7% (£2.8m), reflecting fee and occupancy increases, while turnover across its community-based care division grew 10.2% (£1.8m), due to tender wins.

EBITDA rose 6.5% to £9.8m from £9.2m, mainly due to growth in its registered care homes business. The group reported a pre-tax profit on £1.5m (Q3 2017/18: £0.8m).

Average occupancy grew to 93.6% compared to 92% in Q3 2017/18.

Chief executive Andrew Cannon told an investor conference call that the increase in occupancy had been down to better relationships with commissioners and funders, and being much more targeted and specific about the services it offers.

At the end period Voyage supported 3,396 people – 1,944 through its registered care home division and 1,452 in its community-based care branch.

It reported an average weekly fee of £1,687 per person in its registered care home division, while its community-based care services averaged approximately 60 hours per week per person at an average hourly rate of £17.29.

Voyage Care supports people aged between 18 and 65 with high dependency needs. Its registered care home division typically provides at least two support staff members for every three individuals.

The business employs 10,500 staff members.

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Deven Pamben has more than 15 years’ experience as a journalist, working on newspapers, trade magazines and online publications. A Criminology graduate, Deven worked for Hertfordshire Constabulary before becoming a journalist. He began his journalism career at a local newspaper in Hertfordshire before moving into trade magazines in permanent roles or as a freelancer. Titles he has reported and edited on include Law Society Gazette, Harpers Wine and Spirit, and Health Club Management. Deven has also written travel features for the Sunday People, and spent two years working in Beijing for the official press agency of the People’s Republic of China.