Inspiration Healthcare Group (LSE:IHC) reported first-half revenue of £22 million, down from the prior-year period, reflecting the absence of one-off export contracts recorded a year earlier.
The UK-based neonatal intensive care device manufacturer reported growth across its SLE, Airon and MedTech distribution operations during the period.
Excluding the impact of the prior year’s one-off export contracts, SLE product revenue increased 38% year-on-year. The company attributed the increase to continued demand for its core neonatal intensive care products.
Airon Revenue Rises 40% to £1.6 Million
Airon generated first-half revenue of £1.6 million, an increase of 40% from the same period a year earlier.
Inspiration Healthcare said the increase was driven by an initial order under a three-year purchasing agreement with a large U.S. healthcare provider.
The company’s MedTech distribution business also recorded growth, with revenue increasing 7% year-on-year.
Inspiration Healthcare Expects Full Year Slightly Ahead of Market Expectations
Inspiration Healthcare said it entered the second half with a strong order book.
Based on current expectations, the company expects to finish the financial year slightly ahead of company-compiled market expectations.
The outlook represents management’s current expectation and remains subject to trading during the remainder of the financial year.
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