logo-loader
viewConvaTec Group PLC

ConvaTec Group keeps full-year guidance unchanged

The FTSE 250-listed firm expects revenue to grow between 1% and 2.5%, with adjusted underlying margin up between 18% to 20%

ConvaTec Group PLC - ConvaTec Group keeps full-year guidance unchanged
In the third quarter group revenue was up 4.6% year-on-year to US$462.9mln

ConvaTec Group PLC’s (LON:CTEC) shares jumped after the medical products company said in a trading update the full-year guidance is unchanged.

The FTSE 250-listed firm expects revenue to grow between 1% and 2.5%, with adjusted underlying margin up between 18% to 20%.

READ: ConvaTec appoints seasoned transformation guru as chairman

In the three months to 30 September, group revenue was up 4.6% year-on-year to US$462.9mln, driven by growth in all four divisions – advanced wound care, ostomy care, continence & critical care and infusion devices.

“I am pleased we have reported a solid performance in Q3, but this is a small step on the significant journey ahead of us as we focus on pivoting to sustainable and profitable growth,” said recently appointed chief executive Karim Bitar in a statement.

“As an organisation we need to get closer to patients, to strengthen our innovation pipeline and to drive a relentless focus on execution excellence,” he added.

Shares were up 8% to 198.55p on Wednesday morning.

Quick facts: ConvaTec Group PLC

Price: 187.8 GBX

LSE:CTEC
Market: LSE
Market Cap: £3.73 billion
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Proactive's Ryan Long discusses the tin equivalent grade curve for tin deposits

Proactive's Ryan Long looks at the tin equivalent grade curve for the different types of tin deposit - defining high, mid and low-grade categories. He's calculated the tin equivalent grade using current metals prices where available for the bi product metals to show how the deposits sit...

2 hours, 23 minutes ago

2 min read