UK's Creo Medical H1 revenue rises 45%
UK's Creo Medical H1 revenue rises 45%
Overview
UK medical device maker's H1-26 revenue rose 45% yr/yr to £3.2 mln
Company cut H1-26 operating costs by 15% and reduced operating loss by over 25%
Management expects full-year revenue growth in line with 50%-60% guidance
Outlook
Creo expects full-year revenue growth in line with existing guidance of 50% to 60%
Company says strong order book and H2-weighted revenue profile support outlook
Creo expects lower cost base and recent financing to aid path to profitability
Result Drivers
PRODUCT ADOPTION - Co said commercial and clinical momentum across its portfolio, including increased use of Speedboat, SpydrBlade Flex, and MicroBlate Fine, supported revenue growth
COST BASE REDUCTION - Co attributed lower operating costs to scaling its commercial platform, simplifying the business, and outsourcing manufacturing operations
REGIONAL EXPANSION - Co cited continued expansion into new regions, particularly in LATAM, as supporting revenue growth
Company press release: ID:nRSb0550Oa
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
H1 Revenue |
| GBP 3.20 mln |
|
Analyst Coverage
The one available analyst rating on the shares is "strong buy"
The average consensus recommendation for the medical equipment, supplies & distribution peer group is "buy."
Wall Street's median 12-month price target for Creo Medical Group PLC is GBp55.00, about 300% above its July 27 closing price of GBp13.75
Reuters Recommended Reads
July 27 - AstraZeneca profit beat, bullish tone ease worries over drug pipeline
July 27 - UK's Science Group preliminary H1 core revenue falls; expects buyback to exceed £20 mln
July 27 - Singapore's Raffles Medical H1 revenue falls 6.7%, profit down 9.8%
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)