16 Jan 2020 07:00
Spire Healthcare Group plc
("Spire Healthcare", "the Company" or "the Group")
TRADING UPDATE
16 January 2020
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.
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.
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.
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.
The Group expects to publish its Preliminary Results for the year ending 31 December 2019 on 5 March 2020.
For further information please contact:
Spire HealthcareCora McCallum, Head of Investor Relations+44 (0)20 7427 9169
InstinctifGuy Scarborough+44 (0)20 7457 2020
Registered office and head office:
Spire Healthcare Group plc3 Dorset RiseLondonEC4Y 8EN
Registered number 9084066
Spire Healthcare (SPI)