Priory Group No. 3 Plc: Results for the Three and Nine Months Ended 30 September 2013

Priory Group No. 3 Plc: Results for thePriory Group No. 3 Plc: Results for the Three and Nine Months Ended 30 September 2013 PR Newswire LONDON, November 29, 2013 Group Financial Highlights Q3 performance • Revenue for Q3 2013 increased by £6.4m to £122.7m, a rise of 5.5% (Q3 2012: £116.3m), driven by higher demand for Acute Services in the Healthcare division, predominantly due to NHS Acute bed demand, the contribution from acquisitions in the Craegmoor division undertaken during 2012 and continuing maturity of homes in Amore Care. [1]• Adjusted EBITDAR , in line with expectation, is down 3.5% to £36.1m [1](Q3 2012: £37.4m) and Adjusted EBITDA is down 4.3% to £33.1m (Q3 2012: £34.6m) primarily due to the cost of wage inflation (£1.5m) and increased investment in quality assurance amounting to £0.6m. YTD performance • Revenue YTD 2013 increased by £9.6m to £356.7m, a rise of 2.8% (YTD 2012: £347.1m). [1]• Adjusted EBITDAR YTD 2013 down 7.3% to £101.9m (YTD 2012: [1]£109.9m) and Adjusted EBITDA down 8.6% to £92.9m (YTD 2012: £101.6m). The movements are predominantly due to changes in the trading environment in Education (£5.9m), which are not likely to reverse, notably a requirement to split residential accommodation from teaching facilities and fewer residential placements, as well as the cost of wage inflation and increased investment in quality assurance.