Medical devices maker Inspiration Healthcare Group PLC (LON:IHC) has received the long-awaited CE mark approval for its upgraded Inditherm Alpha patient warming system.
Chairman Mark Abrahams will tell shareholders at today’s annual general meeting: “We will now endeavour to make up for lost time and minimise the impact of the delay through putting in place a number of cost saving measures across the group.”
READ: Inspiration Healthcare dips as product upgrade lag weighs
He will add that Inspiration remains on track to hit its full-year targets despite the delay, with revenues weighted towards the second half of the financial year.
Abrahams said he was “delighted” with Inspiration’s performance last year, during which it posted sales of £15.5mln and an operating profit of £1.2mln – slightly ahead of expectations and achieved in an “increasingly challenging medical devices regulatory environment”.
Shares were down 8.2% to 67p early on Friday.