Corporate broker Cavendish has maintained its 'buy' recommendation for Creo Medical Group PLC in the wake of the medical devices company's interim results.
It said the latest update showed Creo is not only growing its revenue but is also strategically managing its costs to improve its bottom line.
The group, focused on minimally invasive surgical endoscopy, reported revenue of £15.7 million, marking a 15% increase compared to H1-2022.
This growth was primarily fuelled by Creo's Core technology and its Endotherapy consumable business. Notably, the revenue generated from Creo's core products was £0.9 million, equalling the revenue generated in the entirety of FY-2022.
At 9.13 am, the shares were off 1.1p at 31.4p.