5th Oct 2021 11:04
(Alliance News) - Inspiration Healthcare Group PLC on Tuesday said it was on track to hit annual guidance after a strong first half that saw profit and revenue growth.
Shares in the medical technology company were up 8.4% at 127.40 pence on Tuesday morning in London.
Revenue for the six months ended July 31 rose to GBP20.9 million, 47% higher than GBP14.2 million a year previously. Pretax profit more than doubled to GBP2.5 million from GBP1.1 million.
West Sussex-based Inspiration said revenue was in line with management expectations, with costs being carefully controlled and margins improving. As a result, operating profit was above previous expectations.
Looking to the second half of the year, Chief Executive Neil Campbell was optimistic: "With a strong order book we are now well positioned to move into the next phase of the financial year focusing on the additional benefits we can leverage and driving sales through our enhanced global distribution network."
The expansion of global operations was singled out as a key focus for the company in the future.
Inspiration Healthcare declared an interim dividend of 0.205p per share, 2.5% higher than a year before.
By Will Paige; [email protected]
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