Craegmoor maintains focus on expansion strategy

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

Major provider Craegmoor Healthcare intensified its focus on specialist care last year, with secure services and supported living leading the way. The company operates a total of 313 facilities, providing care for 5,828 service users. In 2003, Craegmoor¹s earnings before interest, tax, depreciation and amortisation were up by 13 per cent on the previous year at £31.9m. Turnover increased by 27 per cent to £158.6m, with operating profit ahead by six per cent before exceptional charges of £22.1m which saw the company record a loss of £14.3m. Chief executive John Newell said the results reflected Craegmoor¹s 2003 focus on restructuring and strengthening to enable delivery of its ambitious five-year growth strategy. “The strategy is focused on new developments via public sector partnerships, and acquisitions,” Mr Newell said. “2003 was a year of transition for Craegmoor. We have focused on restructuring and strengthening the business, management team and internal systems, to establish the foundations for co

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