NHP moving towards stability and growth

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

NHP plc, the UK¹s biggest care home landlord, says it has made progress despite difficulties with unpaid rents and the current unfavourable financial climate of the long term care sector. In its interim report and accounts for the six months to March 31, 2001, NHP said a further £5 million had been provided against unpaid rent from tenants, of which £2.2 million in rent was lost due to homes being in receivership throughout the period. However, NHP chairman Sir Martin Laing said there had been some positive achievements in the period covered by the report. “Firstly, we have successfully begun the process of consolidating our tenant base into a smaller number of larger, financially stronger and more professionally managed operators,” Sir Martin said. “Over time this should help NHP to stabilise, and eventually grow, rental income. “Secondly, we have improved our financial position by securing the release of £47 million from a Further Drawings Fund, as well as agreeing a new bank facility and reducing short

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