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Highlights
- Spire Healthcare Group PLC (LSE:SPI) is an FTSE 250 index listed independent healthcare group based in UK.
- During FY22, the company's top-line grew around 8.3% YoY.
- It secured a favourable turnaround from reporting a negative profit after tax in FY21 to delivering a positive PAT in FY22.
- The firm has resumed dividend payments and declared a final dividend of 0.50 pence per share attributable for FY22.
- SPI has maintained a positive business momentum of FY22 at the start of FY23 and reiterated its full-year outlook for FY23.
Spire Healthcare Group PLC (LSE:SPI) is an FTSE 250 index listed independent healthcare group in the United Kingdom. The Group operates a network of thirty-nine hospitals and eight clinics across the UK.
During the last fiscal year 2022, the company’s top-line saw an increase of around 8.3% year-on-year (YoY) to £1,198.5 million, driven by increased private treatment during FY22. Also, SPI has posted a favourable turnaround from reporting a negative profit after tax during FY21 to delivering a positive PAT in FY22. The company’s adjusted free cash flow increased by approximately 133% in FY22. On the profitability front, the Adjusted EBIT went up 30.2% YoY to £105.6 million during FY22. Also, SPI has resumed dividend payments and declared a final dividend of 0.50 pence per share for FY22, as compared to no dividend paid in FY21.
On business operations front, the company expanded its footprint with the acquisition of The Doctors Clinic Group for £12 million. Furthermore, Spire healthcare has inked multi-year contracts with Vitality, Bupa, and Aviva. These recent developments will strengthen the revenue streams for SPI.
Throughout FY22, SPI demonstrated a steady top-line growth with growing demand for private and NHS. Moreover, SPI has shown an increased investment in IT security, digitisation, and software as a service.
The company has maintained a positive business momentum of FY22 at the start of FY23 and reiterated its full-year outlook for FY23. SPI aims to deliver further efficiencies and remained on track to deliver another £15 million of cost savings in FY23. Overall, the company is expecting to improve its profitability, margins, ROCE and cash conversion over the medium term.
Top 10 Shareholders
The top ten shareholders collectively form ~67.39% of the total shareholdings. Mediclinic International, Ltd. holds the maximum number of shares with ~29.90% shareholding, followed by Toscafund Asset Management LLP with ~18.10% shareholding, as depicted in the chart below.
Stock Price Performance
The stock has witnessed a decline of ~4.20% in the last one month and over the last 6 months, it has increased by ~4.5%. The stock has a 52-week low and 52-week high of GBX 202.00 & GBX 252.50, respectively and is currently trading slightly above than the average of 52-week high-low.
Data Source: EODHD/Others, Analysis done by Kalkine Group
Note 1: Past performance is not a reliable indicator of future performance.
Note 2: The reference data for all price data, currency, technical indicators, support, and resistance levels is 09 June 2023. The reference data in this report has been partly sourced from EODHD/Others.
