Interserve make £1.4m on PFI contract to provide services for Portsmouth City Council

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A COMPANY providing respite and day care facilities in the city made a significant pre-tax profit, new figures show.

According to the Centre for Health and the Public Interest, construction company Interserve made £1.4m in pre-tax profit after being paid £4.7m by Portsmouth City Council to assist in the provision of new residential care and day care facilities across the city.

It equates to 29 per cent of the payment into a pre-tax profit.

Paid between 2010 and 2015, the funds were part of an NHS private finance initiative (PFI) contract.

A PFI is a method of paying for public infrastructure projects using private capital.

The figures were included in a report published yesterday which found that companies that have built NHS hospitals under PFI schemes across the country over the past six years are poised to make almost £1bn more over the next five years.

Under the NHS scheme, companies provide money for new hospitals then charge annual fees.