UK's Convatec falls on slowing revenue growth, margin pressure

ConvaTec

21/05/2026 09:04

** Shares of medical equipment maker Convatec CTEC.L down 2.2% at 209.4p

** Co posts organic revenue growth, excluding the contribution of its product InnovaMatrix, of 4.8% for four months ended April 30, vs 6.7% a year earlier

** "We do not expect any material changes to forecasts, but 1.6% organic growth will require a decent acceleration in the last two months of H1 to get to consensus of 2.9%" - JP Morgan analyst

** If current spot rates were to hold for remainder of FY26, co's estimated headwind to adjusted operating margin would be about 40 bps vs prior estimate of about 30 bps, Convatec says

** YTD, including session moves, CTEC down about 14%

 (Reporting by Megha Anilkumar Nair)

 ((MeghaAnilkumar.Nair@thomsonreuters.com;))