Revenues rise but profits fall for Prime Life

Prime Life Limited’s revenues rose from £45.1m to £46.5m for the year ended 31 March 2015. Cost of sales also rose to £36.6m (2014: £35.2m) and administrative expenses stood at £2.3m (2014: £2.1m). Once these had been deducted, the care home operator made an operating profit of £7.7m (2014: £7.8m). Following a rise in interest charges on its bank loans from £771,000 to £2.1m, its pre-tax profit fell from £6.9m to £5.5m.