Welcome!

News Feed Item

PRIORY GROUP NO. 3 PLC Results for the three and six months ended 30 June 2014

LONDON, August 28, 2014 /PRNewswire/ --


Group Financial Highlights 

Q2 performance 

  • Revenue for Q2 2014 increased by £11.2m to £129.8m, a rise of 9.4% (Q2 2013: £118.6m), driven predominantly by a strong performance in Healthcare and Craegmoor due to higher ADC and ADF, together with continuing maturity of Amore Care, partially offset by reduced revenue in Education following changes to pupil mix with fewer residential places.
  • Adjusted EBITDAR[1] is up 4.1% to £35.4m (Q2 2013: £34.0m) and Adjusted EBITDA[1] is up 4.5% to £32.4m (Q2 2013: £31.0m) primarily due to higher revenue in Healthcare, Craegmoor and Amore Care, partially offset by the challenging conditions in Education as well as higher operating costs to service the higher levels of ADC and patient acuity.

YTD performance 

  • Revenue YTD 2014 increased by £20.1m to £254.0m, a rise of 8.6% (YTD 2013: £233.9m).
  • Adjusted EBITDAR[1] YTD 2014 up 3.8% to £68.3m (YTD 2013: £65.8m) and Adjusted EBITDA[1] up 4.2% to £62.3m (YTD 2013: £59.8m).

For a copy of the full financial report for the three and six months ended 30 June 2014 please visit http://www.priorygroup.com/investors/financial-performance

Commenting on the results, Priory Group Chief Executive Officer Tom Riall said:

"Following our solid start to 2014, trading for the period has remained in line with our expectations with the second quarter of the year seeing us maintain and indeed build upon our positive trading performance in the year to date, recording a near 10% rise in revenues alongside a 4.5% increase in EBITDA.

"I am particularly pleased by the strong performances from our Healthcare and Craegmoor divisions during the quarter as well as the ongoing maturity of our Amore Care business.  Conditions in the broader education market continue to adversely affect our Education business but I am satisfied that the measures we are taking to address the issues we are facing will ensure that the Group is well positioned in the medium term.

"Overall, we are continuing to make good progress against our revised strategy as we seek to become the UK's leading provider of specialist healthcare, social care and education services."

[1] 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 280 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

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
SYS-CON Events announced today that Tintri Inc., a leading producer of VM-aware storage (VAS) for virtualization and cloud environments, will exhibit at the 18th International CloudExpo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, New York, and the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
The IoTs will challenge the status quo of how IT and development organizations operate. Or will it? Certainly the fog layer of IoT requires special insights about data ontology, security and transactional integrity. But the developmental challenges are the same: People, Process and Platform. In his session at @ThingsExpo, Craig Sproule, CEO of Metavine, will demonstrate how to move beyond today's coding paradigm and share the must-have mindsets for removing complexity from the development proc...
SYS-CON Events announced today that Super Micro Computer, Inc., a global leader in Embedded and IoT solutions, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Supermicro (NASDAQ: SMCI), the leading innovator in high-performance, high-efficiency server technology, is a premier provider of advanced server Building Block Solutions® for Data Center, Cloud Computing, Enterprise IT, Hadoop/Big Data, HPC and ...
SYS-CON Events announced today that Enzu, a leading provider of cloud hosting solutions, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Enzu’s mission is to be the leading provider of enterprise cloud solutions worldwide. Enzu enables online businesses to use its IT infrastructure to their competitive advantage. By offering a suite of proven hosting and management services, Enzu wants companies to foc...
The IoT is changing the way enterprises conduct business. In his session at @ThingsExpo, Eric Hoffman, Vice President at EastBanc Technologies, discuss how businesses can gain an edge over competitors by empowering consumers to take control through IoT. We'll cite examples such as a Washington, D.C.-based sports club that leveraged IoT and the cloud to develop a comprehensive booking system. He'll also highlight how IoT can revitalize and restore outdated business models, making them profitable...
SoftLayer operates a global cloud infrastructure platform built for Internet scale. With a global footprint of data centers and network points of presence, SoftLayer provides infrastructure as a service to leading-edge customers ranging from Web startups to global enterprises. SoftLayer's modular architecture, full-featured API, and sophisticated automation provide unparalleled performance and control. Its flexible unified platform seamlessly spans physical and virtual devices linked via a world...
SYS-CON Events announced today that BMC Software has been named "Siver Sponsor" of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2015 at the Javits Center in New York, New York. BMC is a global leader in innovative software solutions that help businesses transform into digital enterprises for the ultimate competitive advantage. BMC Digital Enterprise Management is a set of innovative IT solutions designed to make digital business fast, seamless, and optimized from mainframe to mo...
In his keynote at 18th Cloud Expo, Andrew Keys, Co-Founder of ConsenSys Enterprise, will provide an overview of the evolution of the Internet and the Database and the future of their combination – the Blockchain. Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life ...
As cloud and storage projections continue to rise, the number of organizations moving to the cloud is escalating and it is clear cloud storage is here to stay. However, is it secure? Data is the lifeblood for government entities, countries, cloud service providers and enterprises alike and losing or exposing that data can have disastrous results. There are new concepts for data storage on the horizon that will deliver secure solutions for storing and moving sensitive data around the world. ...
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo 2016 in New York and Silicon Valley. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 17th Cloud Expo and will feature technical sessions from a rock star conference faculty ...
SYS-CON Events announced today that AppNeta, the leader in performance insight for business-critical web applications, will exhibit and present at SYS-CON's @DevOpsSummit at Cloud Expo New York, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. AppNeta is the only application performance monitoring (APM) company to provide solutions for all applications – applications you develop internally, business-critical SaaS applications you use and the networks that deli...
Customer experience has become a competitive differentiator for companies, and it’s imperative that brands seamlessly connect the customer journey across all platforms. With the continued explosion of IoT, join us for a look at how to build a winning digital foundation in the connected era – today and in the future. In his session at @ThingsExpo, Chris Nguyen, Group Product Marketing Manager at Adobe, will discuss how to successfully leverage mobile, rapidly deploy content, capture real-time d...
SYS-CON Events announced today that ContentMX, the marketing technology and services company with a singular mission to increase engagement and drive more conversations for enterprise, channel and SMB technology marketers, has been named “Sponsor & Exhibitor Lounge Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York City, New York. “CloudExpo is a great opportunity to start a conversation with new prospects, but what happens after the...
IoT generates lots of temporal data. But how do you unlock its value? How do you coordinate the diverse moving parts that must come together when developing your IoT product? What are the key challenges addressed by Data as a Service? How does cloud computing underlie and connect the notions of Digital and DevOps What is the impact of the API economy? What is the business imperative for Cognitive Computing? Get all these questions and hundreds more like them answered at the 18th Cloud Expo...
SYS-CON Events announced today the How to Create Angular 2 Clients for the Cloud Workshop, being held June 7, 2016, in conjunction with 18th Cloud Expo | @ThingsExpo, at the Javits Center in New York, NY. Angular 2 is a complete re-write of the popular framework AngularJS. Programming in Angular 2 is greatly simplified. Now it’s a component-based well-performing framework. The immersive one-day workshop led by Yakov Fain, a Java Champion and a co-founder of the IT consultancy Farata Systems and...