Spire’s unhealthy warning

SPIRE Healthcare plunged 53¾p to a record low 193½p after a profit warning on the back of National Health Service belt-tightening.

The independent group said NHS work revenue fell 9.5 per cent in the first half and it now expects annual pre-tax earnings to be “materially lower” than for 2017. The NHS uses companies like Spire to make up for shortages of beds and staff, but referrals are being reduced as it prioritises emergency cases.

CEO Justin Ash said: “The current difficult market conditions – also seen by other operators – had a greater impact on our business than we had expected.”