In 2001, the board of this newly-renamed firm seriously considered selling their visiting nurse (VN) business.
They must be relieved they didn't because it has turned into a spectacular growth story that dominates the business. The company has just reported figures for its second quarter showing group turnover up 50 per cent to $48.7m.
In the VN segment where the company focuses most of its efforts turnover grew by 66 per cent to $38.9m with growth split roughly 50:50 between organic and acquisitions. The slower growing more commoditised part of the business, personal care (PC) grew nine per cent to $9.0m.
In 2001 the two businesses were much closer in size. Profits for the quarter almost doubled as margins improved. The company believes there is ample scope for margins to improve further.
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