Solid but lacklustre year for Priory Group

Priory Group No 1 Ltd, the top company at the diversified healthcare and special education provider owned by Advent International, has posted its statutory accounts for calendar 2012. At the top line, turnover leapt by 29% to £463.1m (2011: £359.8), but only because of the timing of the Craegmoor acquisition part way through 2011. The directors’ report confirms that on a pro forma basis (assuming the acquisition of Craegmoor Healthcare occurred on 1 January 2011, rather than the actual date of April 2011) turnover for 2012 was just 1.7% up at £463.1m (2011 pro forma: £455.4m).