Meridian maintains even keel

Despite a 5% fall in occupancy levels, revenues at care home provider Meridian Healthcare (Holdings) only experienced a marginal drop to £32.5m in the year ended 31 March 2013, from £32.8m in 2012. After a £1m reduction in administrative expenses, however, Meridian recorded an operating profit of £7.6m, the same figure as the previous year. Following £1m in net finance charges and a £248,000 profit on the sale of investments, the provider actually came out ahead with a pre-tax profit of £6.8m (2012: £6.6m).