12th May 2015 06:45
LONDON (Alliance News) - Spire Healthcare Group PLC Tuesday reiterated its full-year guidance for 2015, as it traded positively and in line with expectations in its first quarter.
The independent hospital group had guided at the time of its 2014 results in March for an earnings before interest, tax, depreciation and amortisation margin in line with 2014 and high single-digit growth in earnings per share.
Spire said Tuesday that during the three months to end-March revenue grew around 10%, with growth coming from all of its three major payor groups, with Self-Pay and National Health Services businesses being particularly encouraging. Stripping out its acquisition of St Anthony's Hospital last May, revenue rose 6%.
The company said that all of its development projects remain on schedule. Construction work for a new six-operating-theatre block at St Anthony's remains on track to complete in July of next year, and construction of a new cancer radiotherapy centre in Chelmsford is expected to be finished before the end of 2015.
Spire has received planning application for its proposed new hospitals in Manchester and Nottingham and work on both sites began in April. It expects the Manchester site to be completed in January 2017, and the Nottingham site to be finished in November of next year.
"I am pleased to note that during the first three months of our first full financial year as a public company we have once again grown revenues from all our three major payor groups. While the growth in the NHS business in the period has been strong, it is also gratifying that there has been continued strong growth in the Self-Pay business, " said Spire Chief Executive Officer Rob Roger in a statement.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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