Profits drop at largest care home provider

Four Seasons have announced a 31% drop in profit compared to this time last year. Nothing to worry about there then!!

Is this the first sign of the next Southern cross?

Whilst the financing is arranged differently, reading between the lines, it does appear that the group is holding a lot of debt and this result must bring into question the ability to service it.

After the demise of Southern Cross in 2011 CQC have gained new powers to inspect the finances of large providers.

However it may already be too late for Four Seasons,I’ll keep you updated.