NHP looks to boost specialist care provision

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

NHP has announced a pre-tax profit of £16.4 million for the year to September 30, 2002. This figure is up £6.4 million on the previous 12-month period. Chief executive Bill Colvin said the strategy to consolidate NHP¹s tenant base had improved earnings considerably during the year and would improve the quality of future years¹ earnings. The year under review saw the transformation of NHP into two distinct business units: the original property business and the new operating business, Highfield Care. Highfield Care provides NHP with a vehicle to manage its owned homes as well as a potential source of quality profits in the future. “Both businesses made steady progress this year,” Mr Colvin said. Å’We have added 109 NHP homes to the operating business and the property business has seen a significant improvement in the rent collection from, and covenant strength of, its tenant base (including Highfield Care). This improvement has been reflected in greatly increased asset values.” Mr Colvin said the successful

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