Coldhabour signs with voluntary sector provider
Healthcare IT provider Coldharbour has signed a major deal with the not-for-profit older peoples charity and national homecare provider WRVS, in a move which sales director Mike Morton told CCMN will be the first of many deals the company is hoping to sign with third sector providers.
Palms Row drops leaves
Palms Row Health Care struggled throughout 2011, posting a pre-tax loss of £463,000, despite receiving £9m for the sale of subsidiary business, the Kingsland Nursing home which reported 76% occupancy.
Mears says market remains challenging
‘Significant disparity’ remains between short and long-term care opportunities listed homecare operator Mears Group has said in its pre-close trading statement. Its directors reported...
Bluebird’s profits soar by 16%
In the year it was acquired by CBI Parent LP, homecare franchisor Bluebird Care Group reported revenues of £7.5m for the year ended 31...
Bupa writes down UK care business after profit drop
Bupas care homes were responsible for a large drop in the provident associations pre-tax profits, its preliminary global results for the year ended 31 December 2015 show. As a result of the 39% fall from £609.2m to £374.3m, there has been a partial write down of the value of its UK care business.
Sanctuary acquires nine turn-key homes from LNT
Housing and care provider Sanctuary Group has acquired nine care homes in the Midlands from care property developer LNT Group.
Set-up costs eat into Anchors profits
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.
Costs eat into Sanctuarys profits
The Sanctuary Groups care home arm reported a turnover of £64.8m for the year ended 31 March 2012, an increase of 9.6% on the previous years £59.1m. This equated to £610 per week per bed, an increase of £11 from 2011.
Third sector update – December 2011
Alternative Futures recorded returns of £74.2m for the year ended 31 March 2011, an increase of 37% on the previous years turnover of £54.2m. The learning disability and mental health provider carried forward £34.6m of funds compared to £19.5m in 2010. The vast majority of its revenues (£45.8m) came from its 237 supported living schemes which provide 24-hour support to people with learning disabilities or mental health needs. It also operates 10 adult care homes, two of which offer nursing, and seven independent hospitals, caring for 104 people.
Fostering placement rise boosts Ideaparks books
Ideapark Ltd, the holding company for the UKs largest independent fostering agency Foster Care Associates (FCA), reported revenues of £165.7m for the year ended 31 December 2013, compared to £163m the previous year. Taking off cost of sales of £114.5m (2012: £111.3m) and administrative expenses of £46.2m (£44.9m), the company made an operating profit of £5.1m (2012: £6.7m). Following the deduction of interest charges of £1.7m (2012: £1.9m), Ideapark made a pre-tax profit of £3.1m (2012: £4.9m).