Full year numbers from the private healthcare provider Spire are out today. Revenue are up 11% and adjusted operating profits rose by almost 15%, cost savings plans have been accelerated and the company is taking on an increasing number of procedures for the NHS. Trading has been in line with expectations since the start of the year and further EBITDA improvements are forecast for FY25, although cost pressures from rising minimum wages and national insurance increases are set to take a toll of up to £20m a year. With adjusted pre-tax profits of just £50m, that’s a big impact and it’s irking investors as the Spire share price dropped by more than 20% in early trade.
Asset managers Schroders issued full year numbers this morning, with headlines here including a 14% increase in pre-tax profits, with AUM added 4%. Aggressive cost savings plans and a new three year strategy designed to attract new business has evidently also offered investors some reassurance. The Schroders share price was up around 5% approaching 9am.
The FTSE-250 listed engineering firm Hunting published full year results, with revenues of more than $1bn, pre-tax profits up by 50% and dividends up 15%. The growth comes despite a volatile market backdrop and there’s further steady growth being forecast for the year ahead, with directors anticipating an acceleration in the second half of the year and into 2026, helped by geopolitical tail winds. The Hunting share price did rise by more than 8% in early trade, but the gains proved to be short lived.
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