24 June 2024
One Health Group
plc
("One
Health" or "OHG" or the "Company")
Results for the year to 31
March 2024
Notice of Annual General
Meeting
and
Dividend
Timetable
One Health
Group plc (AQSE: OHGR), the independent
provider of free, high quality NHS care for patients referred
through 'Patient Choice' for treatment in Orthopaedics, Spine,
General Surgery and Gynaecology, is pleased to announce its audited
results for the year ended 31 March 2024.
Financial
Highlights
·
Turnover of £23.3m (2023: £20.5m) an increase of
14%
·
Underlying operating profit £1.62m (2023: £1.53m) an increase
of 6%
·
Underlying earnings per share of 10.22p (2023: 11.3p),
reflecting the increase in the rate of corporation tax to 25%
(2023:19%)
·
Cash at bank at year end of £4.7m (2022: £3.3m) an increase
of 42%, providing substantial resources for continued investment in
growth and underpinning the Group's dividend policy.
·
Final dividend proposed of 4.07p per share, in line with the
Board's stated dividend policy
·
Total dividend paid in respect of the financial year of 6.10p
per share, with dividend cover of 1.8 times.
· The
Annual Report and Financial Statements 2024 can be viewed here:
www.onehealth.co.uk/news/the-companys-annual-report-and-financial-statements-2024
Strategic
Highlights: Surgical Hubs
· In
line with our strategy, the Board in pleased to have
identified a site for the first One Health surgical hub which
will deliver additional 'owned' operating capacity within the
original timescales.
·
Further locations are being explored for more capacity to
come on stream, subject to planning, and One Health continues to
identify additional operating capacity in the independent sector to
help deliver on Government Waiting List reduction
targets.
Operational
Highlights
· 13%
increase in new NHS patient referrals to 13,266, a new
record.
·
6,169 surgical procedures undertaken, an increase of 7% on
last year.
·
Strong surgical pipeline into 2025 generated by the record
new patient numbers.
·
Transfers from NHS Trusts' internal waiting lists continuing
into next year, supporting wider NHS activity to reduce the
national waiting list. The company continued to benefit from
additional revenue streams in the form of local NHS Trust waiting
list transfers, assisting the NHS with the elective recovery plan
following Covid-19.
· 13%
expansion in outpatient capacity taking the total number of
outreach clinics to 35
·
Attracted 22 new Surgical Consultants to the business to
support growth, making a total of 63
· A
further 18 new surgeons joining in 2025, with eight expected to
deliver activity in the first quarter.
·
Additional operating theatre capacity being developed at both
existing and additional independent hospitals as they increasingly
make their facilities available to One Health.
· One
Health's average patient 'referral to treatment' waiting time is
eight weeks, with 96% waiting less than 18 weeks and this metric
continues to improve.
·
Secured new 5-year contracts with the two largest
commissioners from April 2024, these agreements replace the
historic annually renewed contracts, and represent a strong
indication of the value of the services provided by One Health to
the NHS.
Commenting on
trading and the outlook, Adam Binns, Chief Executive Officer,
said:
"One Health has continued to perform well over
the last financial year, ahead of last year, demonstrating solid
growth in new and existing geographies, and setting new records for
turnover, new NHS patients and surgical procedures.
"In addition to direct NHS referrals received
when patients exercise their statutory right to choose their
provider of care through 'Patient Choice', selecting One Health
through the NHS e-Referral Service (e-RS), we continued to support
five individual NHS Trusts' with their internal patient waiting
lists, further reducing the pressure on the NHS.
"The record number of new surgeons applying to
provide their services to us is testament to the benefits that the
Group provides to the wider community of NHS patients.
"In consequence, the three drivers of our
growth - more patients, more surgeons and more operating theatre
capacity - continue to be the mainstays of our business model, as
they have been for the last 20 years since the business was
established.
"We look forward to the future with confidence,
as the provision of free surgical care for NHS patients becomes
more widely adopted to reduce waiting lists. This approach is now
being strongly supported by all mainstream political parties and
NHS campaigns to promote Patient Choice."
Notice of AGM
One Health announces that the 2024
Annual General Meeting ("AGM") of the Company will be held at 131
Psalter Lane, Sheffield S11 8UX on Friday 13 September 2024 at
11:00 a.m.
Full details of the operation and
arrangements for the AGM are set out in the Notice of
AGM.
The Company's Annual Report and
Financial Statements 2024, Notice of AGM and Proxy Form have been
posted today to all shareholders who have elected to receive
printed copies. Electronic copies of these documents are available
on the Company's website: www.onehealth.co.uk/investors.
Dividend
Timetable
The Company proposes to declare a
final dividend of 4.07p per ordinary share in respect of the year
ended 31 March 2024, subject to shareholder approval at the
Company's forthcoming AGM.
The ex-dividend date for the final
dividend is 5 September 2024, the record date is 6 September 2024
and the expected payment date is on or around 20 September
2024.
This announcement contains inside
information for the purposes of the UK Market Abuse
Regulation and the Directors of the Company are responsible for the
release of this announcement.
Ends
For
more information, please contact:
One
Health Group plc
via Square1
Consulting
Oberon Capital - AQSE Corporate Adviser and Broker
+44 203 179 5300
Nick Lovering
Mike Seabrook
Adam Pollock
Square1
Consulting
+44 207 929 5599
David
Bick
+44 7831 381201