Inspiration Healthcare beats FY expectations

Medical technology company Inspiration Healthcare performed ahead of expectations in the twelve months ended 31 January, with record revenues and underlying earnings growth of over 20%.

Inspiration said on Thursday that EBITDA was expected to be between the range of £2-2.1m, representing growth of more than 20% over the previous financial year.

The AIM-listed group also noted that it anticipates reporting a 15% increase in group sales to reach approximately £17.8m, including revenue from the recently acquired Viomedex business.

Inspiration added that Viomedex had performed in line with expectations during the four months since its acquisition and had also contributed to the overall growth of the group.

Chief executive Neil Campbell said: "We are delighted with the results achieved this year, we had targeted double digit revenue growth and delivered it notwithstanding difficult macro-economic conditions such as Brexit.

"This gives the group a strong platform for continued double digit revenue growth as the Company plans for further business development."

As of 1100 GMT, Inspiration shares had shot up 9.25% to 72.65p.