Inspiration Healthcare confident in full year numbers

The AIM-traded company said it expected to report revenue for the year in line with market expectations, with profit before tax ahead of expectations due to improved trading margins and deferred research and development expenditure.

Inspiration's board described cash as remaining strong.

It said that, since the completion of the reverse takeover in June 2015, management had focused on re-engineering the business from two entities into a single supplier of critical care and operating room products.

Part of the re-engineering involved integrating the sales teams and routes to market in the UK, the board said, as well as reviewing global distribution options to ensure effective channels in all markets.

Inspiration Healthcare Group was formed on 24 June 2015, following the acquisition of Inspiration Healthcare Limited by Inditherm plc.

"We are pleased with the progress towards integrating the two businesses, which has created a more diverse platform for continued growth and delivered profits ahead of expectations," Inspiration Healthcare chief executive Neil Campbell said.

"The new Inspiration Healthcare business is well placed to continue its progress based upon life-saving customer service and a highly experienced and focused management team," he added.

Following a review of the needs of the group as a whole during the integration process, the board said investment was made in additional staff with the objective of maintaining growth into the future.

During the year, Inspiration also reviewed its research and development priorities which led to expenditure being reduced as projects were evaluated. It did point out that the group was about to embark on a renewed programme of product development, which would come to fruition later in the current year and in 2017.

Inspiration Healthcare was expected to report its final results for the year on 28 April.