|Bid||0.000 x 0|
|Ask||0.000 x 0|
|Day's Range||0.0000 - 0.0000|
|52 Week Range|
|Beta (3Y Monthly)||0.08|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||4.50|
Investors turned their back on struggling private hospital operator Spire Healthcare on Tuesday after it posted “disappointing” results and downgraded annual guidance. The NHS impact, along with investments in the business, contributed to pre-tax profits in the half-year to June dropping 7.9% to £8.2 million. Spire now expects full-year profits to be in the range of £120 million to £125 million, well below the £150 million analysts had pencilled in.
Shares of Britain's largest independent hospital group dropped 12 percent to an all-time low 148.6 pence after the report, which also predicted full-year core earnings would fall by up to a fifth, to 120-125 million pounds. Spire, BMI Healthcare and Nuffield Health have helped the NHS cope with pressures on services in recent years, but their earnings and revenue have taken a hit as the NHS prioritises emergency cases and makes cuts elsewhere, focusing on essential health services. Spire shares have now fallen 40 percent this year.
Spire generates a third of its revenue from work carried out on behalf of the NHS, which has been operating with an about 1 billion pound ($1.3 billion) deficit and a shortage of beds and staff. Companies such as Spire, BMI Healthcare and Nuffield Health have helped the NHS cope with the shortage, but their earnings and revenue have taken a hit as the NHS prioritises emergency cases and makes cuts elsewhere, focusing on essential health services. Spire shares were down 22 percent at 193 pence at 1040 GMT on London's FTSE 250 (.FTSE) index.
Spire also said 2018 underlying earnings before interest, taxes, depreciation and amortization (EBITDA) is expected to be in line with 2017. Shares of the company fell 4.4 percent in early trading on the London Stock Exchange. It was in line with Spire's forecast of EBITDA between 149 million pounds to 151 million pounds, which it revised down last year from 162 million pounds, citing weakness in the online NHS referrals business.