Fronditha Care recently held its Annual General Meeting on November 28, 2023, with a turnout of over 50 attendees.
Despite the ongoing challenges in the aged care sector due to reforms, the organisation has successfully navigated another year, showcasing remarkable achievements.
Dr. Stella Laletas, President of Fronditha Care, expressed in her opening remarks, “The past year has been marked by significant change, and Fronditha Care has demonstrated incredible resilience. The Board, led by Faye Spiteri OAM, CEO, and her Executive team, have gone above and beyond to ensure the best outcomes for our elders and the community.”
Dr. Laletas highlighted the organisation’s milestones stating that “Fronditha Care achieved several firsts this year, including a turnover exceeding $85 million, a $9 million increase from the previous year. The EBITDA of $8.3 million, a 12 per cent increase from last year, and the highest cashflow in our 46-year history from net inflows in refundable accommodation deposits.”
Fronditha Care provided assistance to over 1500 clients and delivered respite and residential services to over 682 elders through its 5 facilities and 40 Independent Living Units.
The facilities maintained an impressive annualised occupancy rate of 96-98 per cent, surpassing industry averages.
Dr. Laletas paid tribute to Benefactors and contributors who passed away, highlighted the opening of the “Orestias” Community Garden, and discussed the successful implementation of important sector reforms under the banner of OneFronditha.
She also spoke about future plans, including the launch of the Fronditha Care Foundation.
Kostas Livadaras, Treasurer of Fronditha Care provided a comprehensive financial report, highlighting Fronditha Care’s sustainability and strategic positioning for future growth.
The meeting unanimously endorsed three candidates for election to the Board of Directors, resulting in the announcement of the 2023 Fronditha Care Board members, including Mr Livadaras as President and Board Chair.
To access the detailed Fronditha Care Annual Report 2022-2023, visit: Annual Report Link.
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