Care UK posts increase in revenues
Colchester’s Care UK posted an 18 per cent increase in revenues in a year which saw a breakthrough NHS contract, growth across the entire group and contracted forward revenues of over £900 million.
Preliminary results for the year ended 30 September 2006 showed an eight per cent increase in operating profit and a five per cent increase in pre-tax profit to £14.2m (2005: £13.5m). Gross revenue reached £199m (2005: £169m).Total forward contracted revenue was £914m – Residential Care £647m, Community Care £75m, Specialist Care £49m, Clinical Care £143m – and potential freehold/long leasehold property portfolio surplus over net book value in excess of £100m.
Care UK chairman, John Nash, said: “The markets that Care UK serves are substantial and the momentum toward greater levels of independent sector participation continues unabated. Financial pressures within both Primary Care Trusts and Local Authorities are significant, but by providing better value solutions we expect to make further good progress despite those pressures.”