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Inspiration Healthcare says revenues running 30% ahead of last year

The first half of the fiscal year has seen a surge in revenues

Inspiration Healthcare -

Inspiration Healthcare Group PLC (LON:IHC) said it is confident it will achieve market expectations for the full year after a strong first half.

Underlying revenues in the six months to the end of July, 2020, were up by around 30% on the corresponding period of last year.

The medtech company said it has a healthy order book that has been boosted by several unexpected opportunities as a result of the coronavirus (COVID-19) pandemic, such as the award of contracts to supply ventilators and ancillary services to the National Health Service (NHS).

The group has previously flagged difficulties supplying ventilators as swiftly as it would have liked because of circumstances outside of its control but it has fulfilled about two-fifths of the value of its contracts and continues to work hard on providing the remaining shipments to the NHS.

READ Inspiration Healthcare’s acquisition of ventilator maker S.L.E. Limited has transformed the business, says CEO

"Since completion, the integration of S.L.E. has proceeded according to plan and, with the recently announced changes to the senior management team, we are excited about the prospects of the enlarged group,” Neil Campbell, the chief executive officer of Inspiration said in a statement.

“When taking the orders from the NHS for ventilators as a result of the COVID-19 epidemic into account we are well placed to deliver significantly increased revenues. Additionally, this year has had some large contracts and one-off opportunities that have resulted in sales being first half weighted. Given the strong first-half performance of the underlying business we are confident that we will achieve market expectations for the current financial year," he added.

Quick facts: Inspiration Healthcare

Price: 63 GBX

AIM:IHC
Market: AIM
Market Cap: £42.82 m
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Inspiration Healthcare CEO pleased with 30% growth in first half revenues

Inspiration Healthcare Group PLC's (LON:IHC) Neil Campbell tells Proactive he's confident they'll achieve market expectations for the full year after a strong first half. Underlying revenues in the six months to the end of July, 2020, were up by around 30% on the corresponding period of last...

on 12/8/20

2 min read