REG - Inspiration Health - Update on Trading

Inspiration HealthcareAnnouncement

28/11/2022 07:00

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RNS Number : 6993H  Inspiration Healthcare Group PLC  28 November 2022

 

 

 

Inspiration Healthcare Group plc

("Inspiration Healthcare", the "Company" or the "Group")

 

 

Update on Trading

Inspiration Healthcare Group plc (AIM: IHC), the global medical technology
company, provides the following update on trading.

Since our last statement in early October this year, we have continued to win
substantial orders for our innovative products, in particular in the Ukraine
and Thailand.  However, the timing of receiving and shipping these larger
orders has proved hard to predict due to the continuing economic uncertainty,
which has affected all the markets in which we operate.

Most recently, our distributor in China has highlighted the disruptive effect
of ongoing lockdowns being enforced, with anti-covid measures impacting access
to major customers.  As a result of this continued uncertainty, not only in
China but across all our markets, we now believe it is unlikely that our sales
will significantly exceed those of the last financial year and we believe the
knock-on impact on EBITDA in the second half means that it will be below that
of the first half.

More positively, our move to the new premises has been successfully completed
and gives us a solid platform for long term growth and although it slightly
increases our cost base as we predicted, from the next financial year onwards,
we expect to make ongoing savings in excess of £0.5m as efficiencies across
the business start to take effect.

Neil Campbell, Chief Executive Officer, commented: "None of us could have
predicted the events that have caused so much disruption in the world in
recent times, nor the financial impact that these would have on our
business.  The factors influencing our partners around the world,
particularly in the last couple of months, has meant that we have had to
adjust our forecasts for growth as this has had the effect of delaying our
progress and growth by a year, but we remain confident in the prospects for
Inspiration Healthcare and our ambitions are undiminished."

 

This announcement contains inside information.

 

Enquiries:

 

 Inspiration Healthcare Group plc                                                                                                                                                       Tel: 0330 175 0000

 Neil Campbell, Chief Executive Officer

 Jon Ballard, Chief Financial Officer
 Nominated Adviser & Broker                                                                                                                                                             Tel: 0207 397 8900

 Cenkos Securities plc

 Stephen Keys

 Mark Connelly

 Katy Birkin

 Dan Hodkinson
 Cadogan                                                                                                                                                                                Tel: 07771 713608
 PR

 Alex Walters

 alex.walters@cadoganpr.com (mailto:alex.walters@cadoganpr.com)

 

 

About Inspiration Healthcare Group

 

www.inspirationhealthcaregroup.plc.uk
(http://www.inspirationhealthcaregroup.plc.uk/)

 

Inspiration Healthcare (AIM: IHC) is a global provider of medical technology
for use in critical care & operating theatres. The Company provides
high-quality, innovative products to patients around the world which help to
improve patient outcomes, and it actively invests in innovative product
opportunities and disruptive technologies.

 

The Group currently consists of three companies: Inspiration Healthcare Ltd,
SLE Ltd and Viomedex Ltd and under these brands the Group sells neonatal
intensive care and operating theatre equipment around the work through a
network of distributors into over 75 countries.  Products range from highly
sophisticated capital equipment through to single use disposables all that can
help improve outcomes of extremely sick patients.

 

In the UK and Ireland the Group offers direct sales for most of its products
supported by Technical Service offering on site and return to base repair and
maintenance along with 24/7 emergency hire of equipment and long term lease
arrangements for its own brand products.  The Group also acts as a
distributor for 3(rd) party companies that wish to access the NHS using the
Group's sales and service expertise and knowledge of the NHS

 

The Group invests in growth through Research and Development holding numerous
patents on its technology and has strong links with academic Key Opinion
Leaders around the world and supports clinical research in the field of
neonatal intensive care.

 

Further information on Inspiration Healthcare Group plc can be seen
at  www.inspirationhealthcaregroup.plc.uk
(http://www.inspirationhealthcaregroup.plc.uk/)

 

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