Pre-tax profits at the UK nursing home group owned by three Irish businessmen last year increased seven fold to £31.84m or €36.67m.
New accounts filed by Barchester Healthcare Ltd show that the business recorded the sharp rise in pre-tax profits as revenues increased by £90.9m or 13.4% from £675.9m to £766.76m or €883.23m.
In his report, group chairman, John Coleman said that the group"traded strongly throughout 2022 and life in our services returned to normality following the Covid-19 pandemic". The group’s earnings before interest tax depreciation amortisation and rent last year increased from £216.8m to £239.6m. The group benefited from £16.68m in 'other operating income’ made up of Government grants that included £14.4m from the State Infection Control Fund and £2.3m in local Covid support.
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