Spire Healthcare sees FY 2017 EBITDA in line

Spire Healthcare said it expects the EBITDA outcome for 2017 to be in line with 2016, before the Group returns to mid to high single digit EBITDA growth from Financial Year 2018 onwards.

Management will provide detailed guidance for the Financial Year ending 31 December 2017 at the Financial Year 2016 results presentation on 2 March 2017, the company said.

"This guidance will take account of the continuing strength of the trading performance in Spire Healthcare's underlying business, the impact of the recovery plan for St Anthony's, the start- up effects of our two new hospitals in Manchester and Nottingham (on track to open in January 2017 and April 2017 respectively) and the impact of the NHS tariff changes, net of efficiency savings. ‎

"Management expect the net effect of these factors to result in an EBITDA outcome for 2017 in line with 2016, before the Group returns to mid to high single digit EBITDA growth from Financial Year 2018 onwards."

Chair Garry Watts added:

"While it is disappointing that St Anthony's return to profitability has been delayed, we are nevertheless pleased with the robust underlying performance of our established hospitals and remain very positive about the prospects for Spire's business overall.

"Spire's fundamental business proposition is solid and we continue to be well placed to benefit from opportunities arising from constrained NHS funding and capacity."