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Spire Healthcare points to NHS headwinds, earnings seen at bottom end of guidance

(Sharecast News) - Private hospitals operator Spire Healthcare pointed to a slowdown in NHS commissioning on Wednesday as it warned full-year earnings would come in at the bottom end of guidance. Spire said revenues grew 3.6% year-on-year in the four months ended 31 October, as self-pay demand continued to improve. However, Spire cautioned that reduced NHS activity, linked to Integrated Care Board budget restrictions, would weigh on performance.

As a result, the FTSE 250-listed firm expects full-year adjusted group underlying earnings to land at the lower end of its £270m to £285m guidance range.

Looking ahead, Spire anticipates 2026 earnings to be broadly in line with or slightly ahead of the current year, supported by further £30m savings and ongoing investment in private payor partnerships.

However, Spire also noted that NHS volumes remained a "material uncertainty", particularly in the first quarter, with proposed tariff uplifts falling short of inflation.

Spire also announced that it had reached an 18-month extension to the maturity of its existing banking facilities of £425m to August 2028.

Reporting by Iain Gilbert at Sharecast.com

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