9th Feb 2016 10:52
LONDON (Alliance News) - Circle Holdings PLC on Tuesday said it beat management expectations for both revenue and earnings before interest, tax, depreciation and amortisation in 2015.
Shares in Circle Holdings were trading up 33% at 22.88 pence on Tuesday morning following the announcement.
The healthcare group said patient volumes rose 8% while revenue grew 15% in the year, as Ebitda pre-exceptional items improved by over 50% on the year before. It said all sites, excluding CircleReading, are now operating on an Ebitda positive basis.
In 2016, the Bath, Reading and Nottingham hospitals should see continued growth in NHS volumes as well as increased self-pay patient volumes, Circle Holdings said, but private medical insurance and revenue are expected to remain flat.
Meanwhile, work on CircleBirmingham, the group's fourth new-build hospital, is progressing with construction anticipated to start in the second quarter of 2016 and with a view to opening a larger facility than originally planned.
Circle Holdings will release its full-year results for 2015 on March 30.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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