Trading update

RNS Number : 2676R

Belluscura PLC

04 November 2021

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED UNDER THE UK VERSION OF THE MARKET ABUSE REGULATION NO 596/2014 WHICH IS PART OF ENGLISH LAW BY VIRTUE OF THE EUROPEAN (WITHDRAWAL) ACT 2018, AS AMENDED.  ON PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN.

Belluscura PLC

("Belluscura" or the "Company" or "Group")

Manufacturing and Trading Update

Demand for X-PLO₂R ™   portable oxygen concentrator significantly exceeds expectations

LONDON, U.K. AND PLANO, TX, U.S. (4 November 2021).   Belluscura plc (AIM: BELL), a leading medical device developer focused on lightweight and portable oxygen enrichment technology, announces a manufacturing and trading update for the 12-month period ended 31 December 2021, highlighting that demand for the X-PLO₂R ™   portable oxygen concentrator has significantly exceeded the Board's initial expectations.

Following the signing of five distribution agreements in as many months within North America, and initial product sales in September 2021, the Company has now exceeded its anticipated sales volume for the financial year ending 31 December 2021 ("FY21"), albeit these were relatively modest targets. However, conversations with distributors and the reception to date from customers are such that the Board is confident the expected run rate for unit sales and revenue for FY22 will be materially ahead of current market forecasts.

Based upon the current growth prospects and opportunities, the Company has entered into an updated partnership agreement with its US based manufacturing partner to increase production capacity to meet anticipated demand for FY22 and beyond.

The Board expects to update shareholders on the full year outcome for FY21 in early January 2022.

Robert Rauker, CEO of Belluscura plc, commented: "Market reception for the X-PLO₂R ™ has been positive and initial demand has been very strong. The recent addition of a fifth distributor in North America gives us confidence to substantially expand our manufacturing capacity to meet demand in the coming years. With the Company now poised to exceed the manufacturing and sales targets set at IPO, we can look to the future with confidence."

For further information please contact:

Belluscura plc	www.belluscura.com
Robert Rauker, Chief Executive Officer	via Walbrook PR
Anthony Dyer, Chief Financial Officer
SPARK Advisory Partners Limited (NOMAD)	Tel: [phone]
Neil Baldwin
Dowgate Capital Limited (Broker)	Tel: [phone]
James Serjeant / Nicholas Chambers
Walbrook PR Ltd (Media & Investor Relations)	Tel: [phone] or [e-mail]
Paul McManus / Sam Allen	Mob: [phone]

About Belluscura plc ( www.belluscura.com )

Belluscura is a UK medical device company focused on developing oxygen enrichment technology spanning broad industries and therapies. Our innovative oxygen technologies are designed with a global purpose: to create improved health and economic outcomes for the patients, healthcare providers and insurance organisations.

 

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