Updates

Spire Healthcare

June 2016

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

Private hospitals operator, Spire Healthcare, had a tough second half in 2015 due to a reduction in NHS referrals volumes reflecting the latter’s budget constraints. But analysts are optimistic the NHS will either receive extra Government funding and / or desperate patients will be prepared to self fund or take out private medical insurance. Spire caters to all three areas and benefits from an ageing population and increase in chronic diseases like diabetes, cancer and obesity. For the year ended 31 December Spire’s revenues rose 2.5% to £885m while ebitda and eps increased 2% to £160m and 18.3p, respectively. Net debt fell 1% to £420m and net debt / EBITDA was 2.6x.The company, which owns ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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