Spire reiterates expectations ahead of AGM

Independent hospital group Spire worked to assure shareholders ahead of its annual general meeting on Thursday, issuing an update before markets opened.

The FTSE 250 company said guidance for the financial year ending 31 December remained in line with management expectations, as stated at the full-year results for 2015 as posted on 17 March.

“All construction projects remain on-time and on-budget, including our new hospitals in Nottingham and Manchester, both of which are due to open in the first quarter of 2017,” the firm’s board said in the statement.

At the time of its full-year results, Spire said it expects full-year revenue to grow by between 3% and 5%, with the group’s adjusted-for-comparable EBITDA margin remaining consistent with 2015.

It also expects to have capital expenditure of between £170m and £190m.