The results of the financial year ended 31 July 2020, saw 121 Care and its associated entities – Guardien Group, Colville Lodge, Winston House and Suncoast Integrated Therapies – record a surplus of $641,000 for the year.
“2020 has presented us all with challenges, and I am pleased to advise that 121 Care has delivered a sound financial result despite all the disruption experienced in the last four months of the financial year,” said out-going treasurer, Rob Ellis when presenting the Treasurer’s Report at the 2020 AGM held on 6 November at the Twin Waters Golf Club.
“Revenue increased by 59% from $6.67M in 2019 to $10.83M in 2020. This is an indication of the increased level of services we delivered to clients in the competitive NDIS market. Costs were controlled an surplus generated from delivery of those services was $492,000. When the $149,000 surplus from the wholly owned subsidiaries is included, it results in an overall 121 Care Group surplus of $641,000 – an increase of 38% on the group’s comparative results of $466,000 surplus generated in 2019.”
The Surplus Committee, created after the strategic planning meeting in August 2019, have agreed to allocate the surplus spending as follows: 20% to staff, 20% to clients and 60% towards sustainability and future viability of the business. Invitations for feedback have been sent to clients and staff to suggest how they wish to see this money used.
Rob acknowledged the efforts of the CEO, Kym Chomley, management and staff who collectively delivered the record result.
Please click this link to view the 2020 Annual Report in Flipping Book