Nursing home bucks trend as turnover rises to €25.8m
WHILE most businesses suffered last year, the country's largest private nursing home operator recorded an increased turnover of €25.8m.
Employment numbers at Mowlam Healthcare also rose by 11pc during 2009. A total of 680 people are in employment at the company, which specialises in caring for elderly people in custom-built homes.
And the Limerick-based firm predicts another surge in employment numbers this year.
Mowlam Healthcare has 15 nursing homes in Ireland and plans to expand further.
Profit before taxes for the company last year was €850,752, while the €25.8m turnover represented a 10pc increase.
Chairman of Mowlam, Pat Shanahan, said that despite the very challenging economic environment "we are pleased with our performance in 2009".
"The increased turnover to €25.8m in 2009 was a positive performance considering the slowdown in the economy and the fact that many potential residents were waiting for the commencement of the nursing home support scheme -- 'Fair Deal' -- before taking up residence," Mr Shanahan said.
Mr Shanahan is the former chairman of Shannon Airport.
"The 'Fair Deal' government-funding scheme commenced in late 2009 and makes long-term nursing home care more accessible, affordable and anxiety-free for those most in need of care," he stated.
"It will have the positive effect of raising standards by allowing residents to choose their preferred nursing home based on quality of care and environment."