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Nuffield Health turnover rises to £575m

Nuffield Health turnover rises to £575m
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Nuffield Health turnover rises to £575m

Finance | Jonathan Last | 22 Jun 2012

The UK's biggest charity, Nuffield Health, has today published its annual report revealing its turnover has reached £575m, up 4 per cent on last year.

The group's EBITDA (earnings before interest, taxes, depreciation and amortization) before exceptionals increased to £72m in 2011 - a rise of 6.3 per cent.

The group reinvested £44m in its operations in 2011 – an increase of 25 per cent from its £35m reinvestment in 2010. In addition, surplus has increased in 2011 to £3.7m from £0.1m in 2010.

Nuffield's reinvestment programme

Nuffield Health's 2011 reinvestment includes £31m for improving and expanding the group’s hospitals. The largest sum was used to redevelop Guildford hospital, to the tune of £7m, whereas Leicester and Tunbridge Wells hospitals each received £4m refurbishments.

The sum of £1m was spent on each of three further hospitals: Leeds (for a new interventional and geographical suite); Brighton (a new chemotherapy suite); and Wessex (an MRI scanner). A further £1m was used to build new pathology laboratories at Guildford and Warwick hospitals.

Further funds went towards fitness and wellbeing services.

David Mobbs, group chief executive, said: “I am delighted by the achievements we made in improving and expanding services for consumers. This is evidenced by the awards and marks of excellence we received across the group last year.

“The strong results show that our strategy to reach out into a wider number of communities to offer fitness and wellbeing services to prevent long-term poor health is working well.”

Nuffield Health again topped the Charity 100 Index in our annual constituent review this year, with income over the past three years averaging £562.7m.  It is easily the UK's biggest charity by income, with second-placed Cancer Research UK posting three-year average income of £496m.

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