Runwood directors report a ‘solid year’ but profits are down

Runwood Homes saw its revenues rise 10.7% from £105.9m to £117.4m for the year ended 30 September 2016. Cost of sale rose to £75.2m (2015: £65.7m), as did administrative expenses to £22.6m (2015: £21.2m) but a £8.1m impairment arising from the revaluation of its care home properties led to an operating profit of £12.1m, 37%…