|By PR Newswire||
|November 23, 2012 02:00 AM EST||
LONDON, November 23, 2012 /PRNewswire/ --
Group Financial Highlights
- Pro forma Revenue for Q3 2012 increased by £1.8m to £116.3m, a rise of 1.6% (Q3 2011: £114.5m), driven by the contribution from acquisitions alongside growth in the Older People division due to the continued maturity of the Priory estate
- Pro forma Adjusted EBITDA up 9.8% to £34.6m (Q3 2011: £31.5m) and pro forma Adjusted EBITDAR up 8.7% to £37.4m (Q3 2011: £34.4m), primarily due to £1.5m of central cost savings arising from the successful integration of Craegmoor, £0.7m from acquisitions and growth within the Older People division
- Pro forma Adjusted EBITDA up 0.9% from Q2 2012 to £34.6m in Q3 2012 (Q2 2012: £34.3m)
- Pro forma Revenue YTD 2012 increased by £3.5m to £347.1m, a rise of 1.0% (YTD 2011: £343.6m), mainly due to growth within the Older People division and the contribution from acquisitions
- Pro forma Adjusted EBITDA YTD 2012 up 10.0% to £101.6m (YTD 2011: £92.4m) and pro forma Adjusted EBITDAR up 9.4% to £109.9m (YTD 2011: £100.5m) primarily due to £6.2m of central cost savings arising from the successful integration of Craegmoor, Older People growth and three Specialist Services acquisitions
For a copy of the full financial report for the three and six months ended 30 September 2012 please visit http://www.priorygroup.com/investors/financial-performance.aspx.
Commenting on the results, Priory Group Chairman Mike Jeffries said:
"I am pleased that the Group has recorded another solid quarter of growth following our robust first half performance. However, given the ongoing backdrop of commissioning reforms, certain elements of our business underperformed our expectations towards the end of the period. This underperformance has continued into October with our acute hospitals, education and specialist care businesses particularly affected by uncertainty at a NHS funder and local authority level which has had the effect of delaying the time period between referrals and admissions.
"Although the timeline from referral to admission is likely to lengthen in the short term given the reforms, Priory's position within the marketplace remains strong and, ultimately, the disruption is only likely to delay decision making rather than result in lost business for the Group.
"However, as a result of this disruption, we now anticipate a c.2 to 3% reduction in our full year EBITDA performance against our previous guidance of £135m excluding the impact of acquisitions and additional ongoing quality costs.
"Despite the near term hiatus in the referral process, the fundamentals underpinning the markets in which we operate remain favourable and the Group firmly believes that the healthcare commissioning reforms will ultimately have a positive impact on Priory once they are fully implemented in the longer term."
Priory is Europe's leading independent provider of care for mental health conditions, psychological and psychiatric services including condition management programmes, secure, forensic and stepdown services, specialist education, complex care, neuro-rehabilitation services, fostering and care homes. It is also the UK's leading independent provider of support for people with learning difficulties, autism, complex needs, and mental health problems.
Priory employs over 10,000 people with a vast range of expertise and experience in over 270 hospitals, schools and care homes throughout the United Kingdom, Northern Ireland and Scotland. Priory has approximately 5,500 patients, pupils and residents.
1. The Pro forma income statement assumes that the acquisition of the Priory Group occurred on 1 January 2011 rather than 4 March 2011, and that the acquisition of the Craegmoor Group occurred on 1 January 2011 rather than 14 April 2011.
2. Excludes exceptional non recurring items and charges for future minimum rental increases.
Andrew Jaques / James White, MHP Communications, +44(0)20-3128-8100.
DevOps at Cloud Expo – being held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA – announces that its Call for Papers is open. Born out of proven success in agile development, cloud computing, and process automation, DevOps is a macro trend you cannot afford to miss. From showcase success stories from early adopters and web-scale businesses, DevOps is expanding to organizations of all sizes, including the world's largest enterprises – and delivering real results. Am...
Sep. 25, 2016 03:15 PM EDT Reads: 4,368
Almost two-thirds of companies either have or soon will have IoT as the backbone of their business in 2016. However, IoT is far more complex than most firms expected. How can you not get trapped in the pitfalls? In his session at @ThingsExpo, Tony Shan, a renowned visionary and thought leader, will introduce a holistic method of IoTification, which is the process of IoTifying the existing technology and business models to adopt and leverage IoT. He will drill down to the components in this fra...
Sep. 25, 2016 03:00 PM EDT Reads: 1,542
SYS-CON Events announced today that Bsquare has been named “Silver Sponsor” of SYS-CON's @ThingsExpo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. For more than two decades, Bsquare has helped its customers extract business value from a broad array of physical assets by making them intelligent, connecting them, and using the data they generate to optimize business processes.
Sep. 25, 2016 02:45 PM EDT Reads: 2,466
The vision of a connected smart home is becoming reality with the application of integrated wireless technologies in devices and appliances. The use of standardized and TCP/IP networked wireless technologies in line-powered and battery operated sensors and controls has led to the adoption of radios in the 2.4GHz band, including Wi-Fi, BT/BLE and 802.15.4 applied ZigBee and Thread. This is driving the need for robust wireless coexistence for multiple radios to ensure throughput performance and th...
Sep. 25, 2016 02:30 PM EDT Reads: 1,505
SYS-CON Events announced today that Commvault, a global leader in enterprise data protection and information management, has been named “Bronze Sponsor” of SYS-CON's 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Commvault is a leading provider of data protection and information management solutions, helping companies worldwide activate their data to drive more value and business insight and to transform moder...
Sep. 25, 2016 02:30 PM EDT Reads: 2,298
SYS-CON Events announced today that Pulzze Systems will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Pulzze Systems, Inc. provides infrastructure products for the Internet of Things to enable any connected device and system to carry out matched operations without programming. For more information, visit http://www.pulzzesystems.com.
Sep. 25, 2016 02:15 PM EDT Reads: 1,791
SYS-CON Events announced today the Kubernetes and Google Container Engine Workshop, being held November 3, 2016, in conjunction with @DevOpsSummit at 19th Cloud Expo at the Santa Clara Convention Center in Santa Clara, CA. This workshop led by Sebastian Scheele introduces participants to Kubernetes and Google Container Engine (GKE). Through a combination of instructor-led presentations, demonstrations, and hands-on labs, students learn the key concepts and practices for deploying and maintainin...
Sep. 25, 2016 02:00 PM EDT Reads: 2,578
Enterprise IT has been in the era of Hybrid Cloud for some time now. But it seems most conversations about Hybrid are focused on integrating AWS, Microsoft Azure, or Google ECM into existing on-premises systems. Where is all the Private Cloud? What do technology providers need to do to make their offerings more compelling? How should enterprise IT executives and buyers define their focus, needs, and roadmap, and communicate that clearly to the providers?
Sep. 25, 2016 02:00 PM EDT Reads: 1,510
SYS-CON Events announced today that SoftLayer, an IBM Company, has been named “Gold Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. SoftLayer, an IBM Company, provides cloud infrastructure as a service from a growing number of data centers and network points of presence around the world. SoftLayer’s customers range from Web startups to global enterprises.
Sep. 25, 2016 01:00 PM EDT Reads: 819
There is little doubt that Big Data solutions will have an increasing role in the Enterprise IT mainstream over time. Big Data at Cloud Expo - to be held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA - has announced its Call for Papers is open. Cloud computing is being adopted in one form or another by 94% of enterprises today. Tens of billions of new devices are being connected to The Internet of Things. And Big Data is driving this bus. An exponential increase is...
Sep. 25, 2016 12:45 PM EDT Reads: 2,426
Digital innovation is the next big wave of business transformation based on digital technologies of which IoT and Big Data are key components, For example: Business boundary innovation is a challenge to excavate third-party business value using IoT and BigData, like Nest Business structure innovation may propose re-building business structure from scratch, as Uber does in the taxicab industry The social model innovation is also a big challenge to the new social architecture with the design fr...
Sep. 25, 2016 12:15 PM EDT Reads: 1,092
DevOps at Cloud Expo, taking place Nov 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 19th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long dev...
Sep. 25, 2016 12:15 PM EDT Reads: 3,374
Data is an unusual currency; it is not restricted by the same transactional limitations as money or people. In fact, the more that you leverage your data across multiple business use cases, the more valuable it becomes to the organization. And the same can be said about the organization’s analytics. In his session at 19th Cloud Expo, Bill Schmarzo, CTO for the Big Data Practice at EMC, will introduce a methodology for capturing, enriching and sharing data (and analytics) across the organizati...
Sep. 25, 2016 11:45 AM EDT Reads: 1,640
IoT is fundamentally transforming the auto industry, turning the vehicle into a hub for connected services, including safety, infotainment and usage-based insurance. Auto manufacturers – and businesses across all verticals – have built an entire ecosystem around the Connected Car, creating new customer touch points and revenue streams. In his session at @ThingsExpo, Macario Namie, Head of IoT Strategy at Cisco Jasper, will share real-world examples of how IoT transforms the car from a static p...
Sep. 25, 2016 11:30 AM EDT Reads: 1,508
The many IoT deployments around the world are busy integrating smart devices and sensors into their enterprise IT infrastructures. Yet all of this technology – and there are an amazing number of choices – is of no use without the software to gather, communicate, and analyze the new data flows. Without software, there is no IT. In this power panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists will look at the protocols that communicate data and the emerging data analy...
Sep. 25, 2016 11:00 AM EDT Reads: 1,565