A rise in occupancy levels helped Perth-based care home group Balhousie to record sales of £41 million last year.
Company founder Tony Banks bought the company’s first care home in Kirriemuir in August 1991 with the aim of providing quality residential care in North East Scotland.
Balhousie is now the largest residential care home provider in Scotland with 25 homes – the majority of which are in Tayside – providing care to more than 900 residents.
Last year Balhousie Holdings Limited’s turnover rose by more than £5m from £36.8m in 2017 to £41m for the year ending September 30.
The company’s pre-tax profits increased from £3.7m in 2017 to £5.9m last year.
Mr Banks, who is now chairman of the care home group, highlighted the ongoing levels of investment made in the estate.
He said: “As our latest results show, Balhousie Care Group continues to perform well in what remains a competitive market.
“The current financial year has seen a £3m refurbishment programme of homes, which will increase to £15m of refurbishment, extensions and new build care homes in 2020/21.
“We have made several key appointments over the last nine months across our care homes and in head office.
“Balhousie Care Group is already a trusted name in the care industry.
“We aim to build on that in the coming year with further improvements in the areas of technology, food and beverage, communication and staff training, all of which will further enhance our offering to residents.”
During the financial year Balhousie’s occupancy levels rose by 5%.
The company acquired the freehold of Clement Park in Coupar Angus and Forth View in Methil from the landlord Medicx Health (Five) Limited in January 2018.
The average number of monthly employees rose from 1,334 to 1,394 staff last year.
The company’s net assets rose from £24.1m in 2017 to £28.5m last year.