Inspiration Healthcare FY revenues tracking ahead of market expectations

Medical technology company Inspiration Healthcare said on Thursday that full-year revenues were projected to come in ahead of market expectations.

Inspiration guided for full-year revenues of roughly £41.0m, representing an increase of 10.9% year-on-year, while adjusted underlying earnings were expected to be no less than £6.2m, representing growth of 10.5% over the prior fiscal year.

Operating profits in the twelve months ended 31 January were said to be similarly ahead of market expectations.

Chief executive Neil Campbell said: "I am very pleased to announce that the Group has performed exceptionally strongly in what was a difficult trading environment with many new problems arising out of the ongoing Covid-19 pandemic such as supply chain issues and cost increases.

"The group is now well integrated, demand for our products remains high around the world and we enter our new financial year with confidence."

Campbell added that Inspiration remained on track for the completion of its new manufacturing, tech support and R&D facility in Croydon, which was expected to become operational in April"

As of 0915 GMT, Inspiration shares were up 5.67% at 102.50p.