26th Jun 2024 12:03
Inspiration Healthcare Group PLC - Croydon, England-based medical technology company specialising in neonatal intensive care devices - In financial 2024, company swung to GBP6.0 million pretax loss from GBP76,000 pretax profit a year prior. Revenue down 8.7% to GBP37.6 million from GBP41.2 million. Administrative expenses rise 31% to GBP23.1 million from GBP17.7 million. No final dividend declared, down from 0.41p, while total dividend falls 67% to 0.205p from 0.615p. In financial 2025, management expects revenue to be weighted towards the second half.
Chair Roy Davis says: "Over the course of the year, we have seen underlying growth in our core neonatal and infusion businesses due to increased demand... Despite challenging market conditions, the group has a number of significant market opportunities and is well placed to deliver long-term sustainable growth."
Company announced plans to place 17.3 million shares at an issue price of 14 pence each to raise approximately GBP2.4 million. In addition, directors and senior management will participate in a subscription of 535,712 shares at the same price to raise GBP75,000. A further retail offer, via Winterflood Retail Access platform, for up to 3.6 million shares at the issue price will raise GBP500,000.
Current stock price: 18.50 pence each
12-month change: down 67%
By Elijah Dale, Alliance News reporter
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