Trading Update and Notice of Preliminary Results

RNS Number : 3018Z
Belluscura PLC
24 January 2022
 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED UNDER THE UK VERSION OF THE MARKET ABUSE REGULATION NO 596/2014 WHICH IS PART OF ENGLISH LAW BY VIRTUE OF THE EUROPEAN (WITHDRAWAL) ACT 2018, AS AMENDED. ON PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN.

Belluscura PLC

("Belluscura" or the "Company" or "Group")

 

Trading Update and Notice of Preliminary Results

 

Demand for, and delivery of, X-PLO2R™ portable oxygen concentrator exceeds expectations

 

LONDON, U.K. AND PLANO, TX, U.S. (24 January 2022).   Belluscura plc (AIM: BELL), a leading medical device developer focused on lightweight and portable oxygen enrichment technology, announces a trading update for the 12-month period ended 31 December 2021.

 

The Board is pleased to report that demand for, and delivery of, the X-PLO2R® portable   oxygen concentrator has exceeded our most recent update of 4 November 2021 . Since the launch of X-PLO2R in September 2021, the Group has sold 377 units, 25% above current consensus forecasts and 150% above initial forecasts for 2021.

 

Recognising the current global supply chain challenges, the Company has significantly increased inventory levels of key components and other raw materials to pre-empt any potential disruption on production levels allowing them to be maintained in the current financial year and beyond.

 

The Group's manufacturing capability has been scaled up significantly to ensure that the Company can continue to meet the increased demand from US distributors, with the company continuing to broaden its sales network with both online and brick & mortar distributors. The company also continues to move forward toward launching the product outside the US, having received enquiries from distributors globally.

 

At 31 December 2021 the Company retained cash balances of $15.6 million (unaudited) and remained debt free.

 

Development of the follow-on products, the X-PLO2R CX and X-PLO2R DX, continues to progress well with the expected launch of these next generation products to be in Q2 2022 and Q3 2022 respectively.

 

The Board is delighted with the progress that has been made to date and looks forward with confidence as a result of the continued rapid growth in the global demand for portable oxygen concentrators.

 

Notice of Preliminary Results

 

The Group expects to release its preliminary results for the year to 31 December 2021 in mid-February.

 

Robert Rauker, CEO of Belluscura plc, commented:  "Market reception for the X-PLO2R® has been positive and initial demand has been very strong. We are very excited about the upcoming launch of the X-PLO2R CX and X-PLO2R DX and look to the future with confidence."

 

For further information please contact:

 

Belluscura plc

www.belluscura.com

Robert Rauker, Chief Executive Officer

via Walbrook PR

Anthony Dyer, Chief Financial Officer




SPARK Advisory Partners Limited (NOMAD)

Tel: +44 (0)20 3368 3550

Neil Baldwin




Dowgate Capital Limited (Broker)

Tel: +44 (0)20 3903 7715

James Serjeant / Nicholas Chambers




Walbrook PR Ltd (Media & Investor Relations)

Tel: +44 (0)20 7933 8780 or belluscura@walbrookpr.com

Paul McManus / Sam Allen

Mob: +44 (0)7980 541 893 / +44 (0)7502 558 258

 

About Belluscura plc ( www.belluscura.com )

Belluscura is a UK medical device company focused on developing oxygen enrichment technology spanning broad industries and therapies. Our innovative oxygen technologies are designed with a global purpose: to create improved health and economic outcomes for the patients, healthcare providers and insurance organisations.

 

 

 

 

 

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
MSCBKNBPFBKDNDB

Companies

Belluscura (BELL)
UK 100

Latest directors dealings