Medicash's turnover has increased from just under £18m to almost £22m in 2000. The non-profit company reported an increase of over 300% on surplus funds, up from £388,000 to £1.3m.

Chief executive Bill Gaywood said the health cash plan provider had taken critical financial decisions in 2000, which were now paying off.

During the year, Medicash's associated charities allocated £150,000 to patient amenity facilities for hospitals, local authority care centres and health-related charities.

More than 2,600 people used Medi-cash's two convalescent centres in Colwyn Bay. The company launched a new scheme with increased benefits, bought Glasgow-based cash plan provider Scot Healthcare and spent £250,000 on a computer and phone system.