Nuffield Health turnover increases

Nuffield Health annual report and accounts for the period to 31 December 2012 showed a12% rise in turnover to £645.0m (2011: £575.0m). Cost of services was £606.1m (2011: £545.5m). Support and governance costs of £2.5m (2011: £20.5m) and net interest payments of £18.3m (2011: £17.2m) led to a surplus on ordinary activities before taxation of £4.1m (2011: £3.8m). Hospitals account for 70% of Nuffield Health’s turnover. In 2012, the division’s revenues rose almost 9% to £462.0m (2011: £424.0m). The directors say the increases were achieved largely as a result of a sharp increase in the volume of work we carried out for the NHS.’ Revenue from its wellbeing services were £195.0m (2011: £161.0m). Central and other services’ accounted for losses of £10.6m (2011: loss of £8.9m). EBITDA excluding exceptionals increased 14% to £82m (2011: £72m). The directors claim its total debt is three times EBITDA, much lower than others in our sector whose debt can be more than 10 times EBITDA’.