NHP reports 51% rise in profit

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

Corporate care operator NHP Plc has reported a pre-tax profit of £24.8 million in its preliminary unaudited results for the year to September 30, 2003. The pre-tax profit is an increase of 51 per cent on last year, which was £16.4 million. NHP chief executive Bill Colvin said results had consistently improved since a change in strategy three years ago. “The growth and success of Highfield Care has contributed greatly to our improved financial performance, which has been achieved in a challenging business environment,” Mr Colvin said. “We expect to continue to deliver value to our shareholders through growing dividends and asset values.” In his report to shareholders, NHP chairman Sir Martin Laing said the company¹s operating subsidiary, Highfield Care, had made significant headway ­ achieving profitability in the second half and producing a much reduced operating loss for the year as a whole of £2.0 million (2002: £3.2 million), and restructuring under its new management team to enhance profitability fu

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