Shares in Inspiration Healthcare Group PLC (AIM:IHC) climbed 10% on Wednesday after the company posted record half-year revenues and said its turnaround strategy was delivering results.
The AIM-listed medical technology group, which specialises in neonatal intensive care devices, reported sales of £24 million for the six months to July, up 41 % on last year and ahead of market forecasts.
The increase was driven by strong demand for higher-margin products such as ventilators, which lifted profitability.
The company also completed delivery of its largest-ever contract, a $6 million humanitarian aid order for specialist ventilators, with most payments already received.
A separate contract in the Middle East is progressing, with further shipments expected later this year once a letter of credit is in place.
Net debt fell to £6.7 million from £8.3 million in January, reflecting the stronger trading performance and better working capital management. The group said it expects further improvement in the second half.
The stock rose 2p to 23p.