24th Jan 2022 10:59
(Alliance News) - Shares in Belluscura PLC sank on Monday as the company looks to increase inventory levels of components and raw materials in the face of current supply chain challenges.
Shares in the London-based oxygen enrichment technology developer fell 12% at 117.40 pence on Monday.
Belluscura is also taking action to meet higher demand from US distributors, by significantly upgrading its manufacturing capability, as the company continues to broaden its sales network with both online and brick & mortar distributors.
On a more positive note, Belluscura said that demand for the X-PLO2R portable oxygen concentrator has exceeded levels seen in early November. Sine its launch in September, the company has sold 377 units to date, 25% above current consensus forecasts.
Looking ahead, the development of follow-on products have continued to progress well, with the X-PLO2R CX and X-PLO2R DX expected to launch in the second and third quarter of 2022 respectively.
"Market reception for the X-PLO2R has been positive and initial demand has been very strong. We are very excited about the upcoming launch of the X-PLO2R CX and X-PLO2R DX and look to the future with confidence," said Chief Executive Officer Robert Rauber.
Belluscura will publish its annual results in mid-February.
By Dayo Laniyan; [email protected]
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