Creo Medical PLC’s revenue improvement at the half-year was driven by subsidiary Albyn though on-going investment in the core business affected the bottom line, said Cenkos.
“Year-to-date, the company has opened regional offices to support the global roll-out of its products, published improved health economic data and initiated discussions with third parties with regards to licensing out the Kamaptive technology,” said the broker.
Cenkos upgraded its forecasts based upon the strong performance from Albyn in the period, with the estimate for revenues for 2021 up by 7.5% and losses cut by £3mln, and kept its ‘buy’ recommendation.