September 16, 2019 / 6:43 AM / a month ago

Hospital chain Spire profit rises on better-than-expected NHS revenue

Sept 16 (Reuters) - Britain’s Spire Healthcare Group Plc reported on Monday a first-half profit compared with a loss last year, helped by cost-cutting measures and better-than-expected revenue from the National Health Service (NHS) referrals.

The hospital operator’s pretax profit, for the six months ended June 30, came in at 9.6 million pounds ($11.97 million), compared with a loss of 2.2 million pounds last year.

Budget cuts at state-run NHS have led to fewer referrals to big private healthcare providers, and Spire was hit by lower revenue from the NHS last year. The hospital operator has been working on reducing capital spending and focussing on self-paying patients.

$1 = 0.8017 pounds Reporting by Pushkala Aripaka in Bengaluru, Editing by Sherry Jacob-Phillips

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