September 12, 2018 Finance

Social care trading company delivers strong financial results

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Adult social care provider, Optalis, has reported a strong set of financial results for the year ending March 31st, 2018. The Berkshire based Local Authority Trading Company, owned by Wokingham Borough Council and the Royal Borough of Windsor and Maidenhead (RBWM) reported strong revenue growth over the previous year.

The positive set of results came from extending service delivery to the Royal Borough of Windsor and Maidenhead, partnerships with the NHS, and new contract wins in extra care housing schemes and Supported Employment services, all of which contributed to an increase in turnover of £32 million.

In addition to these results, Optalis delivered positively on its statutory targets and reduced delayed transfers of care to zero across Windsor and Maidenhead.

Martin Farrow PIC BY STEWART TURKINGTON
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Martin Farrow, Optalis’ Chief Executive, commented: “Not only have we delivered strong growth financially, we have also seen positive CQC ratings across the organisation, improved recruitment and retention rates and positive customer satisfaction rates. This is an excellent outcome and testament to the fact that we have great teams doing great things every day for our customers and for the communities we serve”.

“As a business model, I am sure this will resonate with Local Authorities looking to operate within a tightened cost envelope, where the council remains strong and at the heart of current practice, but where there are opportunities for refinement and innovation to enhance quality and service delivery.”

Established in June 2011, Optalis was only the second local authority trading company of its kind in the country. Today, it is one of the largest with nearly 700 staff providing care and support services across Wokingham, Windsor, Maidenhead and Oxfordshire.

April 2017 saw the social care provider break new ground by becoming the first team in the country to deliver statutory social care from within a trading company.

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