24th Sep 2008 14:04
Consort Medical plc
AGM Statement
John Robinson, Chairman of Consort Medical plc, today confirmed at the Annual General Meeting that following a year of significant change Consort Medical is on a sound footing. The Group has long-term contracts, a blue-chip customer base and good growth prospects from the increased sales of HFA valves, the introduction of integrated dose counters on Metered Dose Inhalers and the development of the anaesthesia franchise.
Mr Robinson also confirmed the current trading announcement made last week when the Group published its Interim Management Statement.
"Our expectations for this year remain unchanged since our results released on 24 June 2008 and we remain confident of delivering results in line with these for the financial year 2008/9.
"Consort Medical's level of gearing is low at 16% with borrowings being well within our facilities, and providing us with substantial headroom to fund future growth.
"I am pleased to welcome two new people to the senior management team of Consort Medical. Toby Woolrych joins the Group as Finance Director on 1 October and Don Dumoulin joins King Systems as CEO on 6 October.
"With our strengthened management team, the potential for the development of new products, our marketing and distribution network and our opportunity to expand geographically I am confident of the Group's future."
For further information, please contact:
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Consort Medical plc |
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Jonathan Glenn, Chief Executive |
Tel: +44 (0) 1442 867920 |
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Maitland |
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Liz Morley |
Tel: +44 (0) 20 7379 5151 |
Consort Medical plc is a leader in medical devices for inhaled drug delivery and anaesthesia. The Group develops drug delivery systems for the pharmaceutical industry and disposable airway management products for critical care settings in hospitals.
Consort Medical develops and manufactures metered dose inhaler valves, actuators, compliance aids, dry powder devices, disposable facemasks, breathing circuits and laryngeal tubes. The Group has facilities in King's Lynn and Hemel Hempstead in the UK, Indianapolis, Indiana and Kent, Ohio in the US, and Mumbai, India. Consort Medical is a public company quoted on the full list of the London Stock Exchange (LSE: CSRT).
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