Three Shires sustains another drop in profits

Three Shires hospital has posted another fall in pre-tax profits for the year ended 31 March 2008 despite revenue increasing by 7.8% to £13.1m.Cost of sales at the 53-bed hospital, owned by St Andrews/BMI, increased to £8.6m from £8m a year earlier, while administrative expenses were up 14% at £3.9m, leaving an operating profit of…