UKSH sees large increase in turnover

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.