CSRT.L Share News (CSRT)

(ShareCast News) - Single source drug and delivery device company Consort Medical announced its interim results for the six months to 31 October on Tuesday.The London-listed firm said group revenue increased to £144.9m from £135.5m, representing underlying growth of 2.0% and reported growth of 6.9%.Bespak underlying revenue growth was 4.3% during the period, with EBIT growth of 5.7%, while underlying revenue growth at Aesica was 0.5% with EBIT growth of 14.1%.An improvement in Aesica's operational performance increased the firm's operating margin 160 basis points to 7.8%, which left it on course for its double digit margins goal.Adjusted basic earnings per share grew 13% at constant exchange rates to 28.6p, which the board said reflected operational leverage and performance.It said strong underlying cash generation was partially offset by currency headwinds and special items cash flow.Consort's interim dividend was increased 5% to 7.09p, which the board claimed reflected its confidence in the group's prospects."Consort has continued to deliver strong underlying growth in earnings whilst adding further important contract wins that build our pipeline momentum," said CEO Jon Glenn."In particular, the recent landmark master development agreement for Syrina / VapourSoft and the launch of UCB's Cimzia autoinjector underpin our longer term growth prospects."Glenn said the firm was continuing to focus on the organic development of its business, and will continue to consider further inorganic opportunities - whether adding a competency or geographic opportunity - where they present a compelling case for enhancing sustainable shareholder value."With a robust financial position and a strong development pipeline, the board remains highly confident of Consort's future prospects."