Business
Trading Update
Spire Healthcare Group plc announced a trading update indicating positive revenue growth of 3.6% year-on-year from July to October 2025, with its transformation program on track to deliver £30 million in savings. Despite improvements in self-pay trends, a slowdown in NHS commissioning is expected to result in full-year adjusted Group EBITDA for FY25 being at the bottom end of the £270 million to £285 million guidance range. For FY26, adjusted Group EBITDA is anticipated to be broadly in line or slightly ahead of 2025, with further savings of £30 million expected. The company has also successfully extended its £425 million lending facilities by 18 months to August 2028 and is evaluating strategic options, including a potential sale. Disclaimer*
About this update from Spire Healthcare Group Plc
[{"type":"text","content":"\n\nSpire Healthcare Group plc\nTrading update\nTHIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION\n \n3rd December 2025\nSpire Healthcare Group plc (LSE: SPI) ('Spire Healthcare', 'the Group' or 'the Company'), a leading independent healthcare group in the UK, today announces a trading update for the period ending 31 October 2025, an update on its FY26 outlook and the successful extension of its existing lending facilities.\n \nFY25 trading\nSpire update\nSince our interim results in July, trading has been positive with Group revenue growth of 3.6% y/y in the four-month period from July to October 20251. The business has responded well to the challenges of inflation and the increase in National Minimum Wage and employer National Insurance Contributions. Our transformation programme is on track to deliver £30m of new savings during the year, which includes an uplift of £10m that was identified in early 2025 in response to the increase in National Insurance and National Minimum Wage. This uplift offsets half of the additional cost with more savings to come in 2026.\nThe launch of our Patient Support Centres (PSCs) in the summer, which saw us transfer patient booking and administrative functions from nearly all Hospitals into three centres, was an important part of this. Whilst we saw some initial disruption to private bookings after their launch, this has largely settled and they are now gaining in efficiency and contributing towards improving private patient trends and are a key platform for future growth.\nPrimary Care remains on track and we have recently opened a new outpatient-led clinic in Kings Lynn, supporting referrals to nearby Norwich and Cambridge hospitals.\nMarket trends\nSelf-pay trends have continued to improve and PMI trends are broadly unchanged since H1. However, this has not been sufficient to offset the well-publicised recent slowdown in NHS commissioning activity to the Independent Sector, due to Integrated Care Board budgetary restrictions. We continue to work with local commissioners to navigate what we believe to be a near-term challenge and deliver quality care outcomes and continuity of care for patients.\nFY25 outlook\nBringing this together, despite strong progress in business transformation, due to market trends, we expect full-year adjusted Group EBITDA for FY25 to be around the bottom end of o...