Revenue up but losses increase for Ark

Ark Healthcare Holdings Ltd, the home care and home healthcare provider, reported an increase in revenue for the year ending 31 March 2012 but despite this recorded heavier losses than in 2012. Turnover increased massively from £6.7m in 2011 to £11.4m but operating losses grew from £1.8m to £2.8m while losses after tax increased to £4.1m (2011: £1.9m). The report said that losses to date have been due to the establishment of infrastructure to support growth for the homecare provider. The year saw it acquire New start Employment Agency Ltd and the homecare business of the Anchor Trust along with homecare provider Core Mexx II Ltd, which operates in Surrey. Ark also added a further nine branch locations.