16 Jan 2020 07:00
Spire Healthcare Group plc
("Spire Healthcare", "the Company" or "the Group")
Â
TRADING UPDATE
Â
16 January 2020
Â
Spire Healthcare Group plc (LSE: SPI), a leading UK independent hospital group, today announces an unaudited trading update for the year ending 31 December 2019.
Â
The Group made good progress in FY19 with positive momentum in sales growth, particularly private revenues, and the Board expects adjusted EBITDA pre-IFRS 16 to be in line with guidance and current market expectations.
Â
Performance has been underpinned by Spire's continued investment in clinical quality and patient safety which has resulted in 83% of the Company's sites now rated Good or Outstanding by the CQC or equivalent, up from 81% at H1 19 and 76% at FY18.
Â
Further progress on cash generation in the second half of 2019 means the Group anticipates a year-end net bank debt position of c.£330m, down from £362.2m at H1 19 and £372.7m at FY18, with capex of c.£60m in-line with prior Company guidance.
Â
The Group expects to publish its Preliminary Results for the year ending 31 December 2019 on 5 March 2020.
Â
For further information please contact:
Â
Spire HealthcareCora McCallum, Head of Investor Relations+44 (0)20 7427 9169
Â
InstinctifGuy Scarborough+44 (0)20 7457 2020
Â
Registered office and head office:
Spire Healthcare Group plc3 Dorset RiseLondonEC4Y 8EN
Â
Registered number 9084066
Â