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ConvaTec annual profit rises on higher revenue, uptick in margins

By BFN News | 08:15 AM | Friday 05 March, 2021

Medical products maker ConvaTec reported a rise in annual profit on higher revenue and margins . For the year ended 31 December 2020, pre-tax profit rose to $174.7 million from $8.9 million year-on-year as revenue rose 3.7% to $1,894.3 million. Gross margin grew to 59.5% from 59%, while earnings before interest and tax fell 1.1% to $350 million. The company proposed a dividend of 3.983 cents to take full-year dividend to 5.7 cents, in line with the prior year. Looking ahead, the company expects to see 2021 organic revenue growth of between 3% to 4.5% and a constant currency adjusted EBIT margin of 18% to 19.5%. At 8:15am: (LON:CTEC) Convatec Group PLC share price was 0p at 204.2p Story provided by

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