Inspiration Healthcare's year of 'substantial investment' boosts revenues

Medical technology supplier Inspiration Healthcare said it had continued to perform strongly and was expecting to report revenues and pre-tax profits in line with market expectations for the year ended 31 January.

The strong start to Inspiration's trading year followed an improved performance by the company during the second half of its previous financial year, something predicted by the company at the time of its interim results.

Inspiration's balance sheet remained strong with cash balances similar to the prior year, the company said in a statement.

The AIM-quoted firm said the 2017 trading year had been "one of substantial investment in strengthening the depth of management and the recruitment of experienced staff" in order to deal with increasingly stringent regulatory requirements for medical devices within the EU, an investment Inspiration intended to continue as it invests in its new product pipeline for the key markets of Europe, North America and the Middle East.

"Across the Group, we continue to make good progress in strengthening the portfolio of our products and services, enabling us to compete more effectively," the firm said on Wednesday.

As of 1040 GMT, shares had grown 3.71% to 50.30p.