13th Jan 2015 08:08
LONDON (Alliance News) - Spire Healthcare Group PLC on Tuesday upgraded its revenue expectations for the year after strong trading in the fourth quarter and said it expects its earnings for the year to increase on the back of the contribution from the St Anthony's hospital acquisition.
Spire said its trading in the fourth quarter was positive, meaning it now expects revenue for 2014 to be between GBP850 million and GBP855 million, an upgrade on the GBP825 million to GBP840 million guidance it gave in its interim statement in November.
The group expects its earnings before income, taxation, depreciation and amortisation for the full year to be GBP157 million to GBP160 million. That compares to EBITDA of GBP150 million for 2013.
Spire said both its revenue and earnings will be boosted by the contribution from St Anthony's Hospital in south west London, which it acquired earlier this year.
Revenue rose for its Private Medical Insurer and Self-Pay businesses over the year, and revenue from the NHS continues to grow ahead of private revenue. Spire expects NHS revenue to account for around 29% of total revenue for the full year, up from 25% last year.
"As Spire finishes its first financial year as a public company, I am pleased to note that during the period we have grown revenues and EBITDA from all our three major payor groups," said Rob Roger, Chief Executive of Spire.
"I shall comment more fully on the outlook for 2015 when we announce our preliminary results for financial year 2014. However, in view of our recently renewed Bupa contract and our expectation of continued growth in our Self-Pay and NHS payors, I am confident that we can continue to grow all parts of our business in the next financial year and beyond," Roger added.
Spire shares opened up 0.2% to 357.00 pence on Tuesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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