Turnover and occupancy rise at Runwood Homes

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Runwood Homes saw a rise in turnover and occupancy levels in the financial year ending September 2016. 

Turnover rose by 10% to £117m from £106m in the prior year period, with occupancy levels up to 93.6% from 92.5% in the previous year.

The operator saw a big decline in profit, however, from £12.2m to £5.5m due to an £8.1m impairment on the revaluation of properties. Profit rose, excluding the impairment, to £13.6m.

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Investment in new and upgraded homes totalled £21.7m, increasing bed numbers from 4,267 to 4,585.

Group net assets rose from £146m to £160m, while bank loans and overdraft rose to £120m from £106m in 2015.

Financing facilities with the group’s bankers have been agreed for a further five years.

The annual statement reported: “The company continues to be at the forefront of the design and construction of superior residential homes, utilising resources and expertise both internal and external. The intention is to keep abreast and, wherever possible, ahead of market innovations in providing the best quality, modern homes for its care activities.

“During the year, the group continued with its ‘Investors in People’ best standards practice. Extensive training methods were updated to include an investment in news e.learning programmes which are currently being rolled out across the organisation.”

Tags : FinanceFinancial ResultsRunwood Homes

The author Lee Peart

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