PRIVATE HEALTH GIANT SPIRE REVEALS 20% PROFIT HIT AFTER NHS FUNDING CUTBACKS

National Heath Executive - NHS funding squeezes have hit private firm Spire Healthcare as it forecasted a large decline in annual profits. Spire Healthcare has unveiled a 20.6% decline in pre-tax earnings in the six months to the end of June, and now forecasts full-year profits in the range of £120m to £125m; significantly down from the £150m predictions by the firm.

A presentation by the healthcare giant explained that this was linked to declining NHS revenues, more specifically “underlying revenue growth from Private Payors offset by lower NHS revenue, leading to underlying revenue decline of 2.4%.”...>>>