Terra Firma owner forgoes annual dividend as Four Seasons drags down profit

Guy Hands, the founder and chairman of Terra Firma, will not receive a dividend payment from the company as its investment in Four Seasons Health Care dragged down profits.

The private equity firm is owned by a holding company called London 58, which is controlled by Hands. It has paid dividends totalling £9.5 million to shareholders over the past three years.

But this year the annual dividend has been shelved, and other Terra Firma executives have seen their pay constrained.

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In accounts filed this week, Terra Firma reported profits down to £1.86 million in the 2014-15 financial year that ended in March 2015. Profit was £2.23 million for the previous financial year.

Turnover also fell from £34.2 million to £28.3 million as investor fees and earnings from companies owned by Terra Firma dwindled.

Tags : Four Seasons Health CareGuy HandsTerra Firma

The author Rob Corder

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