Business

HWH Group Ltd, the out of hours (OOH) care business has reported continued double digit growth but also records a disappointing’ loss. Revenue grew to £90m in the year ended 31 March 2011, up 58% from £57m in 2010. The group forecasts that revenue for the year ended 31 March 2012 will exceed £100m.

Impellam, global staffing solutions firm, reported a positive year in its results for the 52 weeks ending December 31 2011 with EBITDA increasing 13.9% to £47.5m (£41.7m in 2010) and operating profit increasing by 13.4% or £8m on 2010 results to £34.8m.

Independent sector treatment centre (ISTC) provider UK Specialist Hospitals (UKSH) posted a large increase in turnover to £62.7m from £32.9m in 2010 and turned around a pre-tax loss of £1.2m for 2010 into a £5.6m profit before tax for the year ended 31 March 2011. The loss in 2010 had reflected primarily non recurring pre-opening expenditure incurred mobilising three new treatment centres’ in Bristol, Devizes and Cirencester. Cost of sales rose sharply from £26.5m to £43.5m and gross profit rose significantly from £6m to £19.1m. Debt due within one year stood at £17.1m (2010: £14.1m) and long term debt stood at £11.1m (2010: £18.8m). Net liabilities at year end were £761,368 (2010: £5.4m) and the group had £11.2m cash in hand.

Mental health hospital provider Mild Professional Homes, trading as St Luke’s Healthcare, has fallen into administration unexpectedly. Joint administrators from Grant Thornton have been appointed. They will run the company as normal while a new owner is sought.

Maiden accounts from operator of GP practices Malling Health Limited saw the group record turnover of £12.1m and a loss before tax of £72,452 in the year to 31 March 2011. The directors saw 2010/11 as a year in which the focus was on consolidation of its existing position and it considers the financial loss small in the light of the existing financial and healthcare economic position’.

RJD Partners (RJD) has realised its investment in women’s mental health services provider Raphael Healthcare, through a refinancing funded by new debt facilities provided by the Bank of Ireland in combination with funds from the management team and the company’s cash reserves.

Assura, the primary healthcare property company has reported increased revenue and annualised rents for the third quarter to 31 December 2011. Group revenues increased 37% to £25.3m from continuing operations for the nine months to 31 December 2011, compared to £18.5m in the same period last year.

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General Medical Clinics, provider of primary medical care in London, in its half yearly results for the six month period ended 30 November 2011, reported turnover of £4m (2010: £3.6m) Gross profit decreased 5.9% to £1,763,364 (2010: £1,872,935). Basic earnings per share amounted to a loss of 1.7p (2010: earnings 1.1p). Loss on ordinary activities before tax for the six month period was £288,945 (2010: profit £247,293).

The North West Fund for Development Capital (NWFDC), managed by YFM Equity Partners, has made a significant investment of development capital into Castlerock Recruitment Group Limited, the healthcare recruitment business. Castlerock is based in St Helens and has ten offices around the country and employs 57 staff, including 31 recruitment specialists.