Trading Update

RNS Number : 6547P

Inspiration Healthcare Group PLC

22 February 2016

 

Inspiration Healthcare Group plc

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

Trading Update

The Directors of Inspiration are pleased to provide an update in relation to the results for the year ended 31 January 2016.

Subject to audit, the Company expects to report revenue for the year in line with market expectations* and profit before tax ahead of expectations* due to improved trading margins and deferred R&D expenditure.  Cash remained strong.

Since completion of the reverse takeover in June 2015, management has focused on re-engineering the business from two entities into a single supplier of Critical Care and Operating Room products.  Part of the re-engineering has involved integrating the sales teams and the routes to market in the UK.  Overseas, distribution options have been reviewed to ensure the Group has effective channels for the Group's products worldwide.

Following a review of the needs of the Group through the integration process, investment was made in additional, high quality staff with the objective of maintaining growth into the future.

During the year, the Group has been reviewing R&D priorities which led to R&D expenditure in the financial year being reduced as projects were evaluated.  However, the Group is about to embark on an exciting programme of product development which is planned to come to fruition later this year and into 2017.  Re-branding some of the Inditherm products to Inspiration Healthcare is expected to add value in the core Critical Care market of Neonatal Intensive Care where the Inspiration brand is particularly strong.

The Company expects to report its final results on 28 April 2016.

Neil Campbell, Chief Executive Officer, commented:

"We are pleased with the progress towards integrating the two businesses, which has created a more diverse platform for continued growth and delivered profits ahead of expectations.  The new Inspiration Healthcare business is well placed to continue its progress based upon life-saving customer service and a highly experienced and focused management team."

*       Market expectations have been published on a proforma basis on the assumption that Inditherm plc (since renamed Inspiration Healthcare Group plc) and Inspiration Healthcare Limited were a group for the whole year ended 31 January 2016 and excluding the exceptional costs of the reverse takeover.

ENDS

Enquiries:

Inspiration Healthcare Group plc
Neil Campbell, Chief Executive Officer Ian Smith, Group Finance Director	Tel: [phone]

WH Ireland Limited (Nominated Adviser and Broker)
Tim Feather Liam Gribben	Tel: [phone]

Cadogan PR
Alex Walters	Tel: [phone]

 

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