Revenues fall at LifeCare Residences

High-end extra care business LifeCare Residences reported a sharp fall in revenue for the year ended 31 March 2015 from a restated figure of £11.4m in 2014 to £3.6m. Breaking it down, the fall was due to generating income of £331,000 from property leases compared to £8.3m the previous year. It also achieved a rise in turnover from £2.8m to £2.9m from the provision of care services and its deferred membership fee brought in £374,000 (2014: £248,000).