Spire Healthcare keeps guidance as profit falls despite higher revenue
Spire Healthcare Group PLC on Thursday said it is trading in line with expectations, as profit fell but revenue increased in the first half of the year.
The London-based healthcare company said pretax profit sank 52% to £10.8 million in the six months to the end of June from £22.7 million a year prior. Basic earnings per share also were down 52%, to 1.6 pence from 3.3p.
Revenue grew 4.5% to £796.7 million from £762.5 million. Revenue from the Hospitals division was up 4.7% to £732.3 million while the Primary Care division climbed 6.5% to £64.4 million.
Despite the revenue rise, pretax profit declined due to £13.0 million of adjusting items, largely driven by restructuring costs, Spire Healthcare said.
The company proposed no interim dividend, unchanged from the previous year.
Spire Healthcare left its guidance for 2025 unchanged and said it is trading in line with expectations.
It expects mid-single-digit percentage revenue growth for the year, with adjusted earnings before interest, tax, depreciation and amortisation between £270 million and £285 million. It reported adjusted Ebitda of £260.0 million for 2024.
‘We have delivered performance in line with expectations in the first half of the year and are on track to do so in the second half. Our business continues to operate successfully in a fast-changing market,’ said Chief Executive Officer Justin Ash.
Spire Healthcare said it expects to make a further £20 million of cost savings in the second half, after cutting more than £10 million in costs in the first half.
CEO Ash concluded: ‘We have made strong strategic progress and have a valuable business, backed by a freehold property portfolio valued at more than £1.4 billion and a well invested estate. The market will remain dynamic and challenging throughout [the second half], but our ability to use all the levers at our disposal to flex what we offer our patients and payors, and where we offer it, is the highest it has ever been.’
Shares in Spire Healthcare were down 1.4% at 221.75p on Thursday afternoon in London.
Copyright 2025 Alliance News Ltd. All Rights Reserved.