Barchester profits rise by 68%

BARCHESTER, the British nursing home group owned by JP McManus and John Magnier, saw its profits increase by 68% last year.

The company, chaired by former Kerry Group chief executive Denis Brosnan, recorded pre-tax profits of £6.58 million (€9.96m) for the year to the end of December, 2003, accounts just filed at the Companies Office in London show.

Turnover rose by a third to just under £60m, with £9.3m added from acquisitions during the year. Barchester owns and manages 63 nursing homes across Britain and just over 3,700 beds.