Barchester Healthcare reports leap in profits

Posted on June 1st, by editor in Caring Times. No Comments

Barchester Healthcare plc has reported a leap in profits during 1999 and is looking to pursue further acquisition opportunities. The company has reported an increase in operating profit from £1.387 million in 1998 to £2.347 million in the year to December 21, 1999. Barchester managing director Mike Parsons said the results indicated a positive way forward for the long term care sector. “There have been frightening headlines this year about our sector and the financial problems some are having,” Mr Parsons said. “However, we are walking proof that if you ‘put quality first’ which is our mission, and invest well in your homes, staff and facilities you can earn a good living – the sector would do well to heed this.” Mr Parsons said occupancy had improved to reach 91% in December last year, compared with an average for the sector of 86%. Fee rates had also risen to £400-plus against a sector average of £368. “The group has acquired three homes with a total of 201 beds in the last six months and, with the full

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