By Michael Susin
Spire Healthcare, a leading private healthcare provider, has reported a significant increase in pretax profit for the first half of the year. The company attributes this growth to robust demand and is confident about achieving its full-year targets.
Pretax profit for the six months reached an impressive £20.3 million ($25.4 million), a substantial increase from the £3.0 million reported during the same period last year. This surge in profit was driven by a 12% increase in revenue, which amounted to £676.5 million.
Spire Healthcare remains optimistic as the second half of the year begins, stating that it is in line with expectations and expects to see continued growth in revenue, earnings, and margin for earnings before interest and taxes.
Looking ahead to 2023, the company anticipates making further progress by executing its strategic objectives. It plans to focus on top-line growth, improving margins, and enhancing return on capital employed.
In addition to its financial success, Spire Healthcare intends to recommend the payment of a final dividend at the end of the year.
Shares of Spire Healthcare are up 4.0 pence (1.9%) as of 0725 GMT, demonstrating investor confidence in the company’s performance.