Finance costs push Cygnet deeper into losses

Specialist psychiatric hospital provider Cygnet Healthcare has posted pre-tax losses of £4m for the year ended 31 October 2009 as a result of spiralling finance costs.The company, whose portfolio consisted of 17 facilities and 692 beds at the year end, performed ‘respectably’ at the operating level, growing turnover by 4% to £82.2m against the backdrop…