LONDON, May 28, 2015 /PRNewswire/ --
Group Financial
Highlights
Q1 performance
- Revenue for Q1 2015 increased to £137.4m, a rise of 10.6% (Q1
2014: £124.2m). This is driven predominantly by a strong
performance in Healthcare due to increased underlying
ADC[1] and higher average daily fees, the acquisition of
Castlecare in Education, growth in Craegmoor from new sites and the
continuing maturity of Amore
Care.
- Adjusted EBITDAR[2] for Q1 2015 is up 6.4% to £35.0m
(Q1 2014: £32.9m) primarily due to increased revenue partially
offset by higher operating costs to service the higher levels of
ADC.
For a copy of the full financial report for the three months
ended 31 March 2015 please visit
http://www.priorygroup.com/investors/financial-performance
Commenting on the results, Priory Group Chief Executive
Officer Tom Riall
said:
"Following a positive end to 2014, I am pleased to report that
this momentum has continued into 2015, driven by the ongoing
strength of our Healthcare business as well as robust performances
in our other divisions.
"Our pipeline of partnerships and new developments remains
strong, the broader market backdrop is supportive, and our
investment in delivering the highest quality of care continues to
differentiate us from our competitors.
"Looking ahead to the remainder of 2015, our record levels of
occupancy, combined with a focus on strong clinical, educational
and care outcomes for our service users, place us in a strong
position to build on our reputation as the leading provider of
behavioural care in the UK."
--------------------------------------------------
1. Average Daily Census ("ADC") is the average number of beds or
places occupied daily in our facilities.
2. Adjusted EBITDAR excludes exceptional non-recurring items and
charges for future minimum rental increases
About Priory
The Priory Group of Companies is dedicated to helping people to
improve their health and well-being. We understand that in order
for people to achieve high quality clinical and educational
outcomes they need individually tailored programmes, suiting their
specific needs.
Priory Group of Companies has established an unrivalled
reputation for providing quality, inspiring innovation and
delivering value for its service users. The Group currently treats
more than 70 different conditions through a nationwide network of
more than 310 facilities that support service users' health, care,
education and specialised needs.
As a significant proportion of our services are publicly funded
and delivered in partnership with commissioners, our teams work
with commissioning bodies across the country to provide transparent
pricing models and evidence-based care programmes.
The Priory Group website features a range of regularly updated
stories and expert opinion pieces. To help us to increase the
sharing of our expert comment pieces, we would be grateful, where
the article appears online, if you could include a link to our
website, http://www.priorygroup.com, contained within the copy of
the release.
Enquiries: Andrew Jaques /
James White, MHP Communications,
+44-(0)20-3128-8100