Business

Anchor Trust reported a marginal drop in revenues from £267.5m (including £3.7m from discontinued operations) to £264.9m for the year ended 31 March 2013. Retirement housing contributed £128.6m (2012: £124.3m) towards this figure and care homes £119.2m (2012: £117.4m). A further £5.4m was made from providing extra-care services (2012: £5.6m). Following costs of £246.7m (2012: £242.1m), the charitable provider recorded an operating surplus of £18.1m (2012: £25.5m). After taking into account a gain of £8.2m on the disposal of fixed assets (£3.7m) and £4.5m net finance costs (2012: £7.7m), a surplus of £21.8m was recorded (2012: £22.2m). During the report period, Anchor sold 13 properties at Denham Garden Village and a further seven at its The Laureates development, and has since said that all but a few’ properties have been purchased.

Supported living services accounted for the vast majority of incoming resources achieved by charity Alternative Futures Group for the year ended 31 March 2013. The...

Mears believes it will be one step ahead of the competition as more local authorities look to pay providers by results, following the operators’...

Mears believes it will be one step ahead of the competition as more local authorities look to pay providers by results, following the operators’ joint venture with Wiltshire county council. Mears described the move away from the time and task model to outcome-based commissioning in its pre-trading update as its most important milestone since entering into care and an important development in the domiciliary market in the UK’.

Financial services group Legal & General has entered the care home sector buying 13 facilities from Prestbury Investments for just over £70m. Currently leased to...

CareTech enjoyed a solid trading period for the year ending 30 September 2013, its preliminary, unaudited results show. Turnover remained steady at £114.3m (2012: £114.1m)...

CareTech enjoyed a solid trading period for the year ending 30 September 2013, its preliminary, unaudited results show. Turnover remained steady at £114.3m (2012: £114.1m) and underlying EBITDA was boosted to £26.4m (2012: £24.9m) as a result of a small reduction in underlying cost of sales and a larger reduction in underlying administrative expenses. At 23.6% of revenue, CareTech’s underlying EBITDA puts it in the middle rank of profitability among learning disability care home groups. Total EBITDA declared by the company was even rosier, leaping to £39.9m (2012: £21.3m) as a result on some chunky non-underlying’ items. The biggest of these was an £18.5m gain recognised in respect of business combinations’. Netted against a number of non-underlying acquisition expenses totalling £5m this added £13.5m into the total 2013 EBITDA pot (2012: £-3.5m, in the absence of any similar revaluation gains).

Colten Care reported revenues of £40.6m on its estate of 19 care homes for the year ended 28 February 2013. This represents an increase...

Sovereign Capital has sold domiciliary care provider City & County Healthcare Group in a management buy-out backed by private equity firm Graphite Capital for...

Somerset Care Group reported a 3.6% increase in turnover from £77.7m to £80.5m for the year ended 31 March 2013. Operating profit stood at £6.3m...