1 Sep 2011 12:40
News Release
1 September 2011
Consort Medical plc
Interim Management Statement
Consort Medical plc (LSE: CSRT), today issues its interim management statement for the period from 1 May to date.
Bespak has enjoyed a strong start to the year, in particular in the Respiratory segment, with growth over prior year in both valves and device services. We have made good progress with our development pipeline and are today also pleased to announce our first contract to produce a nasal drug delivery device for a major pharmaceutical company. We continue to diversify our business into new but related market segments, and in July a consortium of investors, including two leading diagnostics companies, joined Consort in providing £17m of further funding to Atlas Genetics, the point of care diagnostics company in which Consort made its first equity investment in February.
Underlying demand for King Systems' core products in the US has remained resilient, despite slow markets. The King Vision video laryngoscope has commenced shipments, with interest levels remaining very encouraging. King's manufacturing transformation programme is progressing as previously indicated.
There has been no significant change in the Group's financial position since the publication of the Group's preliminary results for the year ended 30 April 2011 in June 2011. The Group remains strongly cash generative.
The Board remains confident about the outlook for the full year.
For enquiries, please contact:
Consort Medical plc | |
Jonathan Glenn, Chief Executive | Tel: +44 (0) 1442 867920 |
Toby Woolrych, Group Finance Director | Tel: +44 (0) 1442 867920 |
Brunswick | |
Jon Coles/Justine McIlroy | Tel: +44 (0) 20 7404 5959 |
Consort Medical plc is a leader in medical devices for inhaled drug delivery, self-injection and anaesthesia. The Group develops drug delivery systems for the pharmaceutical industry and disposable airway management products for critical care settings in hospitals.
Consort Medical develops and manufactures metered dose inhaler valves, actuators, compliance aids, dry powder devices autoinjectors, disposable facemasks, breathing circuits and laryngeal tubes. The Group has facilities in King's Lynn, Sheffield, Nelson and Hemel Hempstead in the UK, and Indianapolis, Indiana and Kent, Ohio in the US. Consort Medical is a public company quoted on the full list of the London Stock Exchange (LSE: CSRT).