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Spire hurt by reliance on NHS

The group is hoping to shift away from its public service contracts which have dragged revenues down in the first six months of 2018
September 18, 2018

Spire’s (SPI) management always said the group’s recovery would take time. A 21 per cent drop in adjusted cash profits in the first half of 2018 – the new chief executive’s first few months in charge – was therefore perhaps to be expected. What’s worrying is the lack of progress in reducing Spire’s reliance on the cash-strapped NHS, which is the largest single customer and contributed almost 30 per cent of revenues in these numbers.

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