Nuffield Health grows annual income 9 per cent to £840m

18 Jul 2017 News

Nuffield Health, the largest trading charity in the UK, has grown its income to just under £840m a year, according to its latest accounts.

The growth is a 9.4 per cent increase on the previous year, and is the latest in a series of large increases that have seen the charity grow by more than 50 per cent since the start of the decade.

Nuffield Health provides private hospitals, gyms, physiotherapy and other wellbeing services. It said in its annual report that demand for these services in the UK continues to rise.

The charity also acquired 35 gyms from Virgin Active, which led to a growth in staff numbers at the charity, to 13,672, up from 12,339. And the charity said in its annual report that the number of people it helped grew by 22 per cent to 1.1 million.

“It was an encouraging year for trading,” the charity’s annual report said. “Revenue grew by £72m, and [earnings before interest, taxation, depreciation and amortisation] by £3 million. This performance enables us to invest in our services and increase the number of people we are able to support on their fitness and wellbeing journeys. This is a strong performance against a competitive market landscape, with ever-tightening margins, increasing capacity and lower consumer confidence.”

Steve Gray, chief executive of the charity, said he expected his organisation would face financial pressures in the coming year, due to pressures from Brexit and a struggle within the NHS to cope with demand, but he said he believed the charity had the right strategy to thrive.

The charity’s highest-paid member of staff, believed to be Gray, was paid between £760,000 and £770,000 for the year.

 

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