30th Mar 2016 08:46
LONDON (Alliance News) - Healthcare group Circle Holdings PLC on Wednesday said its pretax loss narrowed in 2015 thanks to higher revenue and lower one-offs.
Circle said its pretax loss for the year to the end of December was GBP11.7 million, compared to GBP20.2 million a year earlier when it booked GBP5.3 million in exceptional costs related to its withdrawal from operating the Hinchingbrooke hospital in Cambridgeshire.
Revenue grew 15% to GBP127.8 million from GBP111.0 million, with patient volumes rising 8.0% year-on-year and the group's clinical performance strong. Circle said its patient recommendation rate remained above 98% in 2015.
The group has secured planning permission for CircleBirmingham, its fourth new-build hospital, and is examining a partnership agreement with a healthcare group to extend its acute care offering.
Circle Chairman Michael Kirkwood said the pressures facing the healthcare market in the UK have continued to grow and are likely to remain in place in 2016. He said Circle anticipates "increasing patient demand, tighter public finances, radical changes in technology, and a shift towards more integrated healthcare" in the coming year.
Circle shares were down 1.1% to 22.00 pence Wednesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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