29% profits boost in a year

Bar Livello owners toast 29% profits boost in the year it snapped up a fourth Newcastle hotel.

Gainford Care Homes, which also owns the Vermont Hotel and 13 care homes, said it is has acquired new sites for expansion.

Luxury hotel and care group Gainford Care Homes is celebrating a 29% boost in profits during a year of expansion which saw it snap up Newcastle’s County Hotel in a multimillion-pound deal.

The owner of the Vermont Hotel and Vermont Aparthotel, a raft of North East care homes, two children’s nurseries and several bars and restaurants has announced a profit of £2.8m on turnover £26.8m in the year ended December 31 2016, with pre-tax profits also soaring from £3m to £3.7m.

A breakdown of turnover showed the majority came from its care homes division, which operates 13 homes, bringing in £16.5m, up from £14.8m the previous year.

Its hotel's division, which also runs the Great Victoria Hotel in Bradford, brought in £10.3m, up from £7.6m.

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