Solid showing from Methodist Homes

Charity Methodist Homes (MHA) reported a 16.8% rise in incoming resources for the year ended 31 March 2013 to £179.7m from a restated figure of £153.7m for the previous year. MHA said the increase was due to growth in its services for older people including the 18 former Southern Cross homes whose leases it acquired. After costs of £168.6m (2012: £143.1m) a net income of £11.0m was recorded (2012: £10.7m). The bottom line then received a hefty £31m top-up from a revaluation of assets, which boosted reserves to £224m at the year end (2012: £182m).