The company at a glance
Inspiration Healthcare PLC (LON:IHC) is a supplier of medical technology for critical care, operating theatres and home healthcare applications. Its product range includes respiratory management, thermoregulation and patient warming for newborns and adults in intensive care and the operating theatre. It also supplies equipment used in specialised surgical procedures and infusion therapies.
Last September it paid £4mln for VIOMEDEX, which designs, manufactures and supplies single use respiratory products and sterile medical consumables, principally for the respiratory care market. The business performed in line with financial expectations for the four months from acquisition, Inspiration said.
How it is doing
The company has declared its maiden interim dividend of 0.2p per share after a positive first-half performance.
The global medical device company, which has played its part in sourcing ventilators in the UK for use on COVID-19 sufferers, saw revenue in the six months to the end of July 2020 rise by 77% to £14.2mln.
Underlying earnings (EBITDA) soared 178% from a year earlier to £2.5mln as a result of improved gross margins, additional revenues and the impact of COVID-19 on the timing of some cash-based overheads that are now expected to be incurred during the second half of the financial year.
The dividend payment still leaves plenty of cash left over to plough back into the business. The group intends to invest in its marketing and accelerate its plans for product development.
What the boss says: Neil Campbell, chief executive
“Despite the operating challenges caused by Covid-19, our underlying growth was strong, demonstrating the robustness of our business model and our agility to be able to adapt to new situations quickly.”
“We are pleased to declare our maiden interim dividend and are confident of further strong growth during the rest of the year and beyond.”