Update on Trading

RNS Number : 6993H

Inspiration Healthcare Group PLC

28 November 2022

 

Inspiration Healthcare Group plc

("Inspiration Healthcare", the "Company" or the "Group")

Update on Trading

Inspiration Healthcare Group plc (AIM: IHC), the global medical technology company, provides the following update on trading.

Since our last statement in early October this year, we have continued to win substantial orders for our innovative products, in particular in the Ukraine and Thailand.  However, the timing of receiving and shipping these larger orders has proved hard to predict due to the continuing economic uncertainty, which has affected all the markets in which we operate. 

Most recently, our distributor in China has highlighted the disruptive effect of ongoing lockdowns being enforced, with anti-covid measures impacting access to major customers.  As a result of this continued uncertainty, not only in China but across all our markets, we now believe it is unlikely that our sales will significantly exceed those of the last financial year and we believe the knock-on impact on EBITDA in the second half means that it will be below that of the first half.

More positively, our move to the new premises has been successfully completed and gives us a solid platform for long term growth and although it slightly increases our cost base as we predicted, from the next financial year onwards, we expect to make ongoing savings in excess of £0.5m as efficiencies across the business start to take effect.

Neil Campbell, Chief Executive Officer, commented: "None of us could have predicted the events that have caused so much disruption in the world in recent times, nor the financial impact that these would have on our business.  The factors influencing our partners around the world, particularly in the last couple of months, has meant that we have had to adjust our forecasts for growth as this has had the effect of delaying our progress and growth by a year, but we remain confident in the prospects for Inspiration Healthcare and our ambitions are undiminished."

This announcement contains inside information.

Enquiries:

Inspiration Healthcare Group plc Neil Campbell, Chief Executive Officer Jon Ballard, Chief Financial Officer	Tel: [phone]
Nominated Adviser & Broker Cenkos Securities plc Stephen Keys Mark Connelly Katy Birkin Dan Hodkinson	Tel: [phone]
Cadogan PR  Alex Walters [e-mail]	Tel: [phone]

About Inspiration Healthcare Group

www.inspirationhealthcaregroup.plc.uk

Inspiration Healthcare (AIM: IHC) is a global provider of medical technology for use in critical care & operating theatres. The Company provides high-quality, innovative products to patients around the world which help to improve patient outcomes, and it actively invests in innovative product opportunities and disruptive technologies.

The Group currently consists of three companies: Inspiration Healthcare Ltd, SLE Ltd and Viomedex Ltd and under these brands the Group sells neonatal intensive care and operating theatre equipment around the work through a network of distributors into over 75 countries.  Products range from highly sophisticated capital equipment through to single use disposables all that can help improve outcomes of extremely sick patients.

In the UK and Ireland the Group offers direct sales for most of its products supported by Technical Service offering on site and return to base repair and maintenance along with 24/7 emergency hire of equipment and long term lease arrangements for its own brand products.  The Group also acts as a distributor for 3^rd party companies that wish to access the NHS using the Group's sales and service expertise and knowledge of the NHS

The Group invests in growth through Research and Development holding numerous patents on its technology and has strong links with academic Key Opinion Leaders around the world and supports clinical research in the field of neonatal intensive care.

Further information on Inspiration Healthcare Group plc can be seen at  www.inspirationhealthcaregroup.plc.uk  

 

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