Drop in turnover for Life Care Residences

High-end extra care operator Life Care Residences reported a 21% drop in turnover for the year ended 31 March 2014 from £14.4m to £11.4m.This was largely due to a decrease in revenue from property leases from £11.9m to £8.4m. Profits were further hit by an increase in cost of sales to £7m (2013: £3.3m). After…