Profits dip for care provider

Pre-tax profits last year at the UK-based healthcare group backed by well-known Irish investors, Dermot Desmond, JP McManus, and John Magnier, declined by 45% to £11.48m (€15.5m).

New accounts filed by Barchester Healthcare Ltd to Companies House in the UK show it recorded the drop in profits despite revenues rising by 5.6% from £495.4m to £523.4m in the 12 months to the end of December 31.

According to chairman John Coleman, the improvement in revenues was underpinned by occupancy in its care homes growing from 10,973 to 11,075.