Spire’s expansion continues as health group narrows its losses

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The company, which runs 39 hospitals and 13 clinics, saw its revenues jump 12% to £856 million in 2014 with pre-tax losses shrinking to £7 million from one of £51.9 million in 2013.

During the year, it unveiled plans to open new hospitals in Manchester and Nottingham and bought St Anthony’s Hospital in Cheam.

It also listed on the London Stock Exchange in June when its shares were valued at 210p — they fell 12.5p to 377.9p today.

 

Rob Roger, chief executive, said: “Spire is ideally positioned for its next phase of development.

“We are well capitalised and ready to capture a growing share of the UK’s expanding independent healthcare market and provide much needed additional capacity in areas such as radiotherapy and cancer care.”

Spire said it will pay a 1.8p final dividend on June 30.

“Growth was primarily driven by NHS revenues, but both self-pay and private medical insurance also contributed,” Cora McCallum, analyst at Investec said.

Source Article from http://www.standard.co.uk/business/business-news/spires-expansion-continues-as-health-group-narrows-its-losses-10130524.html

March 24, 2015 |
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