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(Alliance News) - Spire Healthcare Group PLC on Thursday reported a significantly narrowed loss in 2021, with the positive performance is set to continue into 2022 amid strong revenue growth.
The independent hospital group's shares were up 5.0% to 238.27 pence each in London on Thursday.
For 2021, Spire's pretax loss narrowed to GBP8.9 million from GBP233.9 million in 2020. Revenue jumped 21% to GBP1.11 billion from GBP919.9 million.
"We have delivered record growth in private patient revenues in 2021, and we expect to see continued strong growth in 2022. Trading in January and February was in-line with the board's expectations and continues the trend of strong revenue growth. We are in particular encouraged by the significantly higher level of private enquiries received during the year to date compared to recent years. We anticipate that the NHS will continue to be an important contributor to revenue while growing modestly," Spire said.
Spire has not declared any dividends since the start of the Covid-19 pandemic in early 2020. "The board will review the company's dividend policy during 2022 taking into account the balance sheet and trading outlook," the company said.
Looking ahead, Spire said: "Overall in 2022, we expect to see good revenue growth, continued earnings before interest, tax, depreciation and amortisation growth, and a further increase in return on capital employed, with an improvement in margins."
"Whilst Covid-19 self-isolation restrictions have now been lifted in the UK, Spire Healthcare and the healthcare sector will still need to maintain a Covid-secure environment. Accordingly, many Covid-19 costs will continue through 2022. There may be possible upside if Covid-19 prevalence reduces leading to fewer cancellations and staff absences," the company added.
By Greg Roxburgh; gregroxburgh@alliancenews.com
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