UK's Induction Healthcare hits record low as HY loss widens

Induction Healthcare

05/12/2022 09:03

** Shares of UK's healthcare software firm Induction
Healthcare  INHC.L  fall as much as 22.6% to 26.5p; shares hit
record low 
    ** Co posts HY adj core loss of 1 mln pounds ($1.2 mln) vs
700,000 pounds loss a year ago 
    ** Says HY rev of 7.1 mln pounds behind expectations
    ** Sees growth rate in FY to be impacted by delays in
centrally funded programmes
    ** Stock on track to log worst day since market debut in May
2019, if losses hold
    ** In a separate statement co says Guy Mitchell, will step
down as CFO due to personal reasons
    ** Names John McIntosh as interim CFO  
    ** Up to last close, stock down ~46% YTD 
($1 = 0.8144 pounds)
 (Reporting by Prerna Bedi in Bengaluru)
 ((Prerna.Bedi@thomsonreuters.com;))