Profits soar at Care UK
A GROWING Essex-based care company has seen its half-year operating profits soar to nearly £12million.Turnover at Care UK, a care homes and home care services business based in Colchester, has grown by 27% to £118million compared to the same period to the end of March last year, and operating profits have jumped by 31% to £11.
A GROWING Essex-based care company has seen its half-year operating profits soar to nearly £12million.
Turnover at Care UK, a care homes and home care services business based in Colchester, has grown by 27% to £118million compared to the same period to the end of March last year, and operating profits have jumped by 31% to £11.6million.
The company reports “good progress” in all areas of its business as an independent provider of health and social care in the UK.
It also says the integration of Mercury Health, which it bought from Tribal Group plc in April this year to strengthen its presence in the emerging NHS market, is going well.
The business has seen profit and revenue increases in its residential, community, specialist and clinical care operations.
Chairman John Nash said local authority and NHS strategies were continuing to focus on commissioning and service development as they responded to “challenging” demographic trends.
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“A key part of these strategies is to partner with the independent and voluntary sectors to complement expertise and to create a more dynamic and responsive market environment,” he said.
“The extent of this market transition is substantial and the evolution to a market economy is inexorable. In line with this, we believe that Care UK will continue to benefit from consolidation and organic growth opportunities to build an organisation of a scale in proportion to the substantial markets that we serve.”
The business anticipated growth opportunities in health care, he said.
“Overall, Care UK's position as a leading independent provider of services to the NHS has been significantly strengthened overt the first half of the year and we look forward to consolidating our position further in all areas of the business,” he said.