IN BRIEF: Convatec shares rise as improves 2023 revenue guidance
18th May 2023 09:36
Convatec Group PLC - Reading, England-based medical products and technologies company - Tells annual general meeting that revenue grew 3.1% on an organic basis in the four months to April 30, but decreased by 1.7% on a reported basis, following exits from hospital care activities in 2022. Organic revenue growth in Advanced Wound Care, Ostomy Care and Continence Care is a mid-single digit percentage, while organic revenue is flat in Infusion Care. Increases overall revenue guidance for 2023, expecting it to grow by between 5.0% and 6.5%. Revenue growth guidance was in the range of 4.5% to 6.0% previously. Expects operating profit margin on a constant currency basis to increase to at least 19.7%, compared to 19.5% in 2022. Read More