leadf
logo-loader
viewConvaTec Group PLC

ConvaTec Group keeps full-year guidance unchanged

The FTSE 250-listed firm expects revenue to grow between 1% and 2.5%, with adjusted underlying margin up between 18% to 20%

ConvaTec Group PLC - ConvaTec Group keeps full-year guidance unchanged
In the third quarter group revenue was up 4.6% year-on-year to US$462.9mln

ConvaTec Group PLC’s (LON:CTEC) shares jumped after the medical products company said in a trading update the full-year guidance is unchanged.

The FTSE 250-listed firm expects revenue to grow between 1% and 2.5%, with adjusted underlying margin up between 18% to 20%.

READ: ConvaTec appoints seasoned transformation guru as chairman

In the three months to 30 September, group revenue was up 4.6% year-on-year to US$462.9mln, driven by growth in all four divisions – advanced wound care, ostomy care, continence & critical care and infusion devices.

“I am pleased we have reported a solid performance in Q3, but this is a small step on the significant journey ahead of us as we focus on pivoting to sustainable and profitable growth,” said recently appointed chief executive Karim Bitar in a statement.

“As an organisation we need to get closer to patients, to strengthen our innovation pipeline and to drive a relentless focus on execution excellence,” he added.

Shares were up 8% to 198.55p on Wednesday morning.

Quick facts: ConvaTec Group PLC

Price: 178.5 GBX

LSE:CTEC
Market: LSE
Market Cap: £3.57 billion
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Kavango Metals 'gearing up' after announcing Botswana joint venture with...

Kavango Resources PLC's (LON:KAV) Mike Moles speaks to Proactive London following the announcement of the Botswana strategic joint venture with Power Metal Resources. The venture will see the formation of a new, jointly owned, privately held company that is focussed on large-scale mineral...

13 hours, 16 minutes ago

2 min read