A North East care home operator aims to grow its workforce by more than a quarter as part of expansion plans which will see the firm open more homes across the UK.
Hadrian Healthcare, which develops and operates luxury care homes, currently has 10 sites across the region employing 630 staff, but a key land acquisition in Leeds and a forthcoming venue in Scunthorpe will see group staff headcount rise to around 800 in 2015, a rise of 26%.
The growth comes as the company posts turnover of £8.66m for the year ended March 31, 2013, a rise of 10% on the £7.86m filed for the previous 12 months.
Operating profit topped £1.8m, up from the £1.43m noted in 2012 and a rise of 25% year-on-year, despite significant investments made into the business during the period.
The company said it was also confident of further growth having exceeded expectations with 98% occupancy levels for the year in its mature homes.
Since the end of the financial year the firm opened its tenth home in Wetherby, a venture which created luxury living for 59 residents as well as jobs for 75 permanent members of staff, and more jobs are set to follow in plans outlined by owner and chairman Ian Watson.
Watson was a commercial lending banker until he founded the business in Gateshead in 1996, eventually selling it to a Midlands-based rival in 2006 for an eight-figure sum.
The six homes he had set up were taken over, yet as part of the Avery deal he kept Hadrian Healthcare, allowing him to get back into the business within a year, seeking prime residential locations for new homes, each boasting bistro cafes, cinemas, ballrooms, bars, in-house chefs, private en-suite rooms and gardens.
Ian Watson said: “The year-end accounts to March 2013 obviously reflect our trading largely during the year 2012. During the year we continued to develop our business with ongoing capital investment in new facilities – taking that investment to in excess of £50m since 2007 when the group was set up.
“Despite investing in significant developments, the group generated a trading surplus of £1.5m during 2012 and we are now seeing this improve further as our new facilities progress from the commissioning stages into fully mature care homes.
“Our latest acquisition in Oulton Leeds is soon to be submitted for planning permission and this will represent a further £5m new-build development which we anticipate opening in September 2015.
“Recruitment for this new project will start in January 2015 and when completed will bring our total Group staff complement to approximately 800.”