Improved occupancy rates have driven a 12% rise in turnover for central-London psychiatric hospital Florence Nightingale.
The Marylebone-based facility, which trades as Nightingale Hospital, said occupancy rates increased from 61% to 69% in the year ended 31 December 2017 pushing up revenue to £17.4m.
The 82-bed hospital, which was bought by Groupe Sinoué in 2014, kept tight control over expenses despite increasing staff numbers. Cost of sales were up 4% to £11.9m, resulting in a 33% boost in gross profit to £5.5m. Administrative expenses reduced from £4.2m to £3.8m, giving rise to operating profit of £1.7m against a loss of £53,000 in 2016.