IN BRIEF: Convatec shares rise as improves 2023 revenue guidance

Convatec Group PLC - Reading, England-based medical products and technologies company - Tells ...

Alliance News 18 May, 2023 | 8:36AM
Email Form Facebook Twitter LinkedIn RSS

Convatec Group PLC - Reading, England-based medical products and technologies company - Tells annual general meeting that revenue grew 3.1% on an organic basis in the four months to April 30, but decreased by 1.7% on a reported basis, following exits from hospital care activities in 2022. Organic revenue growth in Advanced Wound Care, Ostomy Care and Continence Care is a mid-single digit percentage, while organic revenue is flat in Infusion Care. Increases overall revenue guidance for 2023, expecting it to grow by between 5.0% and 6.5%. Revenue growth guidance was in the range of 4.5% to 6.0% previously. Expects operating profit margin on a constant currency basis to increase to at least 19.7%, compared to 19.5% in 2022.

Current stock price: 223.20 pence each, up 3.7%

12-month change: down 0.8%

By Sabrina Penty, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2023 Alliance News Ltd. All Rights Reserved.

Email Form Facebook Twitter LinkedIn RSS

Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
ConvaTec Group PLC 251.00 GBX -0.24

About Author

Alliance News

Alliance News provides Morningstar with continuously updating coverage of news affecting listed companies.

© Copyright 2024 Morningstar, Inc. All rights reserved.

Terms of Use        Privacy Policy        Modern Slavery Statement        Cookie Settings        Disclosures