(Alliance News) - Inspiration Healthcare Group PLC said Thursday the company's trading in the new financial year has been in line with management expectations.
Speaking at the medical device supplier's annual general meeting on Thursday, Chair Mark Abrahams said: "When we published our financial results in April, I stated that we had started the new financial year with a very healthy order book. I'm delighted to report that initial trading has been consistent with this position and remains in line with management's expectations."
Abrahams said the company's "significant" investment made over the past two years has put the company in a "strong position" to increase sales of its higher-margin Patient Warming System products and to increase revenue.
Pretax profit in its year ended January 31 was GBP1.2 million, with revenue GBP15.5 million, both broadly the same as the year before.
"In the coming year, we expect to continue to increase the level of international sales, as we work with our distributors to develop markets and to search for opportunities that will ensure the company becomes a world leader in Neonatal Intensive Care," added Abrahams.
He continued: "We are actively engaged with a wide range of experts and thought leaders in hospitals and Universities all over the world who are developing new technology to improve outcomes for patients."
Abrahams said Inspiration Healthcare will "actively invest" in a new technology project, in order to "fully develop" them as commercial opportunities.
Shares in Inspiration Healthcare were 6.7% higher in London on Thursday at 70.92 pence each.
Inspiration Hlt (IHC)