Turnover up at Raphael

Specialist mental health services provider Raphael Health Care has reported a 3.5% increase in turnover to £8.2m for the year ended 31 March 2014 despite continued downward pressure on fees.Cost of sales climbed 13% to £4.6m but this was offset by a 12% drop in administrative expenses to £1.6m, resulting in operating profit being more…