Britiain’s second-largest healthcare firm saw its core earnings fall 7.4% to £150m in 2017 from £162m the year before, as it was hurt by its NHS online referral business.
The firm added that its 2018 underlying earnings before interest, taxes, depreciation and amortization (EBITDA) would be in line with earnings for 2017.
Its results were accompanied by an announcement that Simon Gordon had stepped down from his roles as chief financial officer and executive director of the company on 1 March. The FTSE 250 independent hospital group is currently looking for his replacement. Gordon will officially leave the company on 31 March 2018.
During his seven years at the firm, Gordon helped steer Spire through its initial public offering (IPO) in July 2014 and took on the role of interim chief executive last year.
Shares in the firm opened over 3% lower at 218p but shortly recovered to 224p.
Celebrity fund manager Woodford currently owns the second-largest stake in the group at 17%, behind rival hospital group Mediclinic International, which owns a 29.9% stake. Last October, the South African-based firm made a £1.2bn offer for Spire, which it ultimately rejected.
This is the second Woodford-backed healthcare firm to slip up this week.
On Wednesday, pharmaceutical company Vernalis, held by both Invesco Perpetual’s Mark Barnett and Woodford, admitted sales were “slower than hoped for” in its annual update, as its cough and cold drug Tuzistra XR failed to take off. Its share price tanked by 28%, falling from 5.96p to 4.27p at the close of trading on the day.
On Monday, shares in doorstep-lender Provident Financial, another Woodford/Barnett darling, were spooked over a rumoured £500m rights issue.
However, news that it was close to resolving both of the FCA investigations into its Vanquis Bank and Moneybarn units caused its shares to rebound by 75%.
