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(Alliance News) - Inspiration Healthcare Group PLC said Thursday it has performed ahead of expectations and anticipates a 15% increase in revenue for the financial year that ended January 31.
Inspiration Healthcare shares were trading 9.3% higher in London at 72.65 pence each on Thursday.
The medical technology company said it expects to report approximately GBP17.8 million in revenue, compared to GBP15.5 million the year before, including revenue from the recently acquired Viomedex business.
Earnings before interest, tax, depreciation and amortization is expected to be in the range of GBP2.0 million to GBP2.1 million, up from GBP1.5 million in financial 2019.
In September, Inspiration Healthcare acquired medical equipment product maker Vio Holdings Ltd for GBP4.0 million. Vio is the holding company for Viomedex, which "designs, manufactures and supplies single use respiratory products and sterile medical consumables".
Viomedex has performed in line with expectations since the acquisition,Inspiration Health noted, and "contributed to the overall growth of the group".
Chief Executive Officer Neil Campbell said: "We are delighted with the results achieved this year, we had targeted double digit revenue growth and delivered it notwithstanding difficult macro-economic conditions such as Brexit.
"This gives the group a strong platform for continued double digit revenue growth as the company plans for further business development."
For the six months to the end of July 2019, pretax profit was GBP483,000 before on revenue of GBP8.1 million.
By Loreta Juodagalvyte; loretajuodagalvyte@alliancenews.com
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