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Started: sstarski, 15 May 2024 10:58
Last post: sstarski, 15 May 2024 10:58
Its been trundling upwards for a few months, looks like the sprint is about to start
Started: stargate, 19 Apr 2024 03:03
Last post: stargate, 19 Apr 2024 03:03
If SPI, can break last high of 250, on 8/2/23, this would bring the sp, above any overhead supply from previous trading activity. There is a clear bullish uptrend, in place , and the 5 year chart, low price , difference added to 250, implies a target price of 448. Chart trendline, can provide a nearby stop loss level. The underlying sector, was strongest sector today. DYOR.
Started: Nimrod7, 1 Mar 2024 10:36
Last post: Nimrod7, 1 Mar 2024 11:40
LOL...yeah guess I did, must be my age and probably could do with some good quality healthcare...
Guess your 140, was meant to be 240, since sp, 232.
Plenty of good news in the Results, improved dividend and broker ratings...looking to get back above 140 at least....
Started: MartMcM, 14 Sep 2023 14:49
Last post: MartMcM, 14 Sep 2023 14:49
Spire Healthcare plc posted its HY Report for the 6 months ended 30th June 2023 this morning. Revenue was up 13.1% vs H1 22 to £676.5m, driven by continued strong demand, adjusted EBIT was up 24.2% vs H1 22 to £67.8m and adjusted EBITDA was up 11.4% vs H1 22 to £117.9m. Statutory profit after tax was up to £12.7m (H1 22: loss of £0.6m). Meanwhile the balance sheet improved, with net bank debt / EBITDA covenant ratio of 2.1x at 30 June 2023 (2.2x at the end of FY22.) Valuation still remains a headwind to the investment case with forward PE ratio at 25.3x and dividend yield a little feeble at 1.15%. The share price also lacks positive momentum and has been drifting sideways for 2 and half years. SPI remains a share to monitor for the time being. ..
...from WealthOracle
wealthoracle.co.uk/detailed-result-full/SPI/796
Started: Mulder, 14 Sep 2023 08:33
Last post: Mulder, 14 Sep 2023 08:33
Added a few. P/E still 30. No interim dividend.
Started: Nimrod7, 14 Sep 2023 08:12
Last post: Nimrod7, 14 Sep 2023 08:12
Some improvement on last year and maybe gaining some momentum...very possible dividend for end of year too...not bad set of results.
Are you invested in SPI?....you could have waited until morning to comment, some of us need to sleep tonight lol
Margins must have been under great pressure with wage rises and Consultants especially must have raked it in. Minimal profit I suspect and a low EPS. I suspect revenue will be up given the dire state of the NHS.
Started: stargate, 29 Aug 2023 10:54
Last post: stargate, 29 Aug 2023 10:54
Agreed equity has been in trading range for some while. If sp, can break short term trendline at 223, on a closing basis , target is,257. This is based on triangle formation in the price. Keep a stop in place, as the equity has disappointed previous commentators .
Last post: Nimrod7, 10 Aug 2023 09:31
Interim Results have been announced in a timely manner....as we do not get periodic updates it will be interesting to find out if good profits have been made this half......
Started: Turnaprofit, 31 Jul 2023 21:18
Last post: Turnaprofit, 31 Jul 2023 21:18
Don't think Spire will perform as it should until Ash and crew have been moved on. Profitability remains about half the industry average. Fresh approach needed with this one.
Started: xxxAccountant, 17 Apr 2023 18:32
Last post: jlovie, 20 Jul 2023 09:51
I'd held these for years, bought at 333p.
I saw Naked Trader mentioning these as a trading range share.
Sold mine at 239p for a loss, but keeping an eye for a re-entry price.
Missed the last one, but might have a go on any future dips.
Seems to regularly swing 210p - 240p. Several 30p bites far more likely to get my money back than waiting forever to get back to 333p.
Looking for 235 exit
206 hit let's see whether rang starts again
Looking for 206 entry, nice little trading range at the moment on this
I'll keep holding for my £3......
Good weekend and GLA
Started: Mulder, 31 Mar 2023 15:25
Last post: Mulder, 31 Mar 2023 15:25
Ash has decimated profits
Balance sheet is awful with high debt
Last post: Mongrels3, 31 Mar 2023 10:12
Jefferies raises Spire Healthcare to 'buy' (hold) - price target 250 (240) pence
Started: Mulder, 2 Mar 2023 16:49
Last post: uselessinvester, 31 Mar 2023 09:55
If the true value is 90p why would someone offer £3.15
P/E of 60 is what you need to focus on. 10 is considered reasonable. 15 to 20 max for a healthcare stock.
This should be trading around a pound, no more.
Profit of just £8M? Awful.
The board turned down an offer of 315p!
Simply to save their own undeserved fat cat salaries. Like I said clowns. Ash especially. Shareholders got shafted and saw shares collapse to 90p which is true value here without new management and a new CEO
I couldn't agree more. Ash has only played lip service over his tenure. When he too the helm I seem to remember the price was £4.30. He and his team have destroyed what seemed a solid business.
Used to hold these but lost faith in what is a very poor CEO (Ash) for shareholders and an incompetent board.
They turned down an offer of 300p+ from Mediclinic then saw shares plummet to 99p.
Absolute clowns.
This deserves to go bankrupt. High debt, barely making a profit, even using adjusted metrics the P/E here is close to SIXTY!!
Started: bladerunneruk, 6 Mar 2023 07:20
Last post: CERP-84, 25 Mar 2023 23:32
You should get your facts straight..... did you not read the March RNS?
Revenue up 8.3% to £1,198.5m, driven by increased private treatment; private revenue up by 14.5%
· Average revenue per case up 10.3% to £3,179; admissions up 7.8% to 262,801
· Adjusted EBIT up 30.2% to £105.6m and Adjusted EBITDA up 14.2% to £203.5m
· ROCE(7) increased to 6.2% (FY21: 4.9%)
· Profit after taxation of £8.2m (FY21: loss of £8.9m)
· Growth delivered despite material impacts from COVID, raised sickness and workforce pressure
· Good cost management with Adjusted EBITDA margin up from 16.1% to 17.0%
· Continued support for the NHS especially on 104-week waiting patients and orthopaedics
· Repaid £100m of bank loan and completed re-financing of the Group's £325m funding facilities
No hospitals in central London but 7 in and around the m25 ring road. How do you know there are inflation clauses in the lease agreements? Or is this just speculation?
At least it has not faired as badly as TLY (another IC BUY tip). SPI looks like either a long term hold for me now until it recovers (if ever) or a trading share where I average down and hope that it comes back to +220p. It seems to be trading between 200p and 250p. However, as ever timing the trade is key here. GLA
This is looking like hitting 200p. Remarkable bearing in mind the NHS backlog and demand for private outpatient work. It must take a lot of skill to erode a share price like this.
If a private healthcare / medical group cannot make a profit in the current environment then I fail to see how it will ever really do so. This still looks like it is struggling to make a real return on investment / capital, despite demand at an all time high, however this is carrying a fair amount of debt that it needs to service. There will be leases on some properties (not all as some freehold) that have inflation clauses in them, increasing rental payments further still, increasing staff wages etc. On top of this Spire has no real foothold in London and HCA / Cleveland dominate in the capital - likely due to the fact this is where the real returns are to be made.
In today’s news
https://www.bbc.co.uk/news/uk-scotland-64784198
Started: bladerunneruk, 2 Mar 2023 07:56
Last post: Nimrod7, 2 Mar 2023 10:36
At the moment the market thinks different...lets hope it changes it's mind...
Looks like a great set of results for last year and very encouraging for the future.
Last post: Mongrels3, 9 Nov 2022 09:00
Spire raised to buy at Peel Hunt
Started: LesBoy, 9 Sep 2022 08:33
Last post: Bridgedogg1, 2 Oct 2022 10:23
The deferred tax charge in H1 2021 included a one off charge of £17.7m as a result of deferred tax assets and liabilities being revalued from 19% to 25% following the Government's announcement to increase the corporation tax rate which is due to take place on 1 April 2023. Whilst there is speculation of a change to the corporation tax rate with the appointment of the new Prime Minister, no change has been substantively enacted, and therefore deferred tax remains valued at the 25%. Should a change in the rate be enacted, the deferred tax assets and liabilities will be revalued at that point.
my favorite hospitals
From The Times this morning:
Record NHS waiting lists are driving patients towards private healthcare, creating “fundamental” changes in the healthcare system and delivering bumper profits for companies.
Spire Healthcare, one of Britain’s biggest private healthcare providers, today said revenue from private patients had risen by more than a fifth in the first half of this year, against the same period in 2021, and was up by almost a third compared to before the pandemic.
The results coincided with figures from NHS England showing the number of people waiting for care has reached another new high of 6.8 million.
There were 377,689 people who had been waiting for more than a year at the end of July, up by almost 22,000 on the month before.
Justin Ash, chief executive of Spire, said the NHS delays were “not good news for anybody” but it has contributed to a “fundamental shift in consumer thinking”.
Research from the Independent Healthcare Providers Network, which represents private healthcare companies, including Spire, has found that 50 per cent of respondents were thinking of going private.
Demand for private healthcare has been increasing since before the pandemic.
Ash, 57, said private patients were from a “much broader socio-economic group than it used to be”.
“The preponderance have family incomes over £50,000, but there’s been quite an increase in those with family incomes of £40,000 and younger people.”
The core market remains people aged over 55, as those needing care tend to be older, but there has been a strong increase in younger people, those under 35, accessing private care and those in lower socio-economic groups.
He said it showed there is a “real shift” and not just for hospital care, such as for hip replacements, but for outpatient care, such as diagnoses, blood tests and MRI scans, as well as for GP access.
The number of people accessing Spire’s private GP service grew by 69 per cent compared to the first half of last year and is up by 169 per cent compared to the same period in 2019.
Overall revenue at Spire, including those self-paying, private medical insurance customers and NHS referrals, rose by 7.1 per cent to £597.9 million and adjusted operating profits by 12.6 per cent to £54.6 million.
The company recently signed a new four-year agreement with Bupa to provide services to its UK health insurance customers for the next four years.
Spire, which has been advertising on television, said that although its customers were “not immune” to higher inflation, its research showed “the typical private patient is able to access the funds for private care and healthcare is a key spending priority”.
A majority of its private patients remain insured via company schemes, a sector which has also returned to growth.
Started: Nimrod7, 8 Sep 2022 09:58
Last post: Grapeboy, 8 Sep 2022 12:38
Agree Nimrod, good to see net debt down and more private / self pay activity and positive new business areas to develop. Another year of debt reduction, sales expansion, should then show better net profits. Remains a takeover target and has been very stable recently SP wise. One I am less worried than others but slow progress expected.
Results are positive but no resumption of dividend yet.....in a better climate of no wars, settled political scene and a stable market then I think the SP would respond more positively....we are where we are and investors are being very careful with many withdrawing their funds rather than speculating....
Started: Divhunter, 9 Jun 2022 15:28
Last post: Robina, 13 Jul 2022 14:52
jlovie I am with you on the investing dilemma.
I've tried setting automatic stops at around -10% but I've found that as soon as I invest in anything it immediately goes down hitting the stop within a days.
Make it over 333p & I'd be happier, what I paid for these about 6 years ago.
I'm pleasantly surprised that it's recovered quite a bit recently though, I'd all but written these off a few years ago.
It's an aspect of investing I'm really bad at. Holding something that has a big drop, then a slow recovery.
Getting out with a smaller loss should be the plan rather than holding forever hoping to get back in profit, but I end up holding stuff for years when the money could be put to better use.
The quote I heard was "the market doesn't know your entry point".
I agree we're still a target. All a matter of how much someone is prepared to pay. I'd settle for £3.20.
Yes, I think 320p minimum if an offer were to be considered here, just based on last year's rejection.
Must be due to the offer made to Mediclinic which was rebuffed today. I guess it shows that the real value of Spire if a bid came would be well above current price and some bids for companies like Mediclinic and Biffa have been made this week. Just a positive sign in my view that this company must still be a target.
Started: roger65, 6 May 2022 10:59
Last post: Divhunter, 19 May 2022 20:13
Actually lost more than 20% since the turn of the year. I'm adding on weakness so I'll be well set when it eventually rebounds or somebody comes in with an offer. Long term although I will take a bit of profit when it gets back to 250p if they don't reinstate the divi.
There is no obvious reason. Everything trading exceptionally well.
I suspect the market was waiting for an update on trading performance for first quarter. See todays RNS. :-)
Anyone any thoughts on why this has lost 15% in the last month pls? Can't see any obvious reason for it. Thanks in advance.
Positive RNS this morning ahead of todays AGM.
Expect a significant reaction from the market today.
Started: Turnaprofit, 10 May 2022 10:41
Last post: Turnaprofit, 10 May 2022 10:41
Roger65 Spire have made considerable redundancies in an effort to reduce costs. Will be interesting to see how this impacts the bottom line as undoubtedly the style of service changes.
Started: bhopper13, 23 Mar 2022 14:15
Last post: bhopper13, 23 Mar 2022 14:15
Just noticed that they might be selling one of there divisions might allow them to make a higher bid than last years!
What timeframe is there on when they can make a new bid?
Last post: Mongrels3, 11 Mar 2022 11:08
and another from Barclays today - 3.10
JPMorgan raises Spire Healthcare price target to 347 (296) pence - 'overweight'