Higher occupancies and fees helped Four Seasons continue its positive momentum in the third quarter of 2016.
EBITDA for the group rose by £7.7m year on year to £19.7m in the quarter with turnover up by 9% to £13.9m.
Chairman Robbie Barr said: “We have continued to build on our turnaround and positive momentum and progress in quarter two.”
Combined occupancy at Four Seasons Health Care and brighterkind rose to 89.6% in Q3 from 85.3% in the year earlier period.
Average weekly fees for the two business rose to £675 from £620 in the year-earlier period. Group net debt was £513.8m.
There were just four embargoes in the group’s care homes at the end of October.
The business disposed of seven freehold properties generating income of £11.7m and pledged to continue to consider offers for loss-making or underperforming homes.
Four Seasons cited the increase to the National Living Wage, Local Authority funding pressures and the ongoing nursing shortages as its main challenges.
Robbie said: “It is clear that the current funding levels will result in a reduction in LA care home capacity.”
