Trading update
FY24 revenues £37.0m, below expectations, due to delayed material export order now expected in FY25.
vs expectations: below
- FY24 revenues £37.0m
- Net debt (excluding IFRS16 lease liabilities) £6.4m
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Inspiration Healthcare Group plc (AIM: IHC), the global medical technology company pioneering best-in-class, specialist neonatal intensive care medical devices, announces a trading update for the year ended 31 January 2024 ("FY24").
The Company expects to report revenues for FY24 of £37.0 million, which is below current market expectations. This mainly relates to a delay to one material export order that was due to be shipped during the current financial year and is now expected to be shipped early in FY25. As a result of the timing difference, net debt is approximately £6.4 million (excluding IFRS16 lease liabilities) and the Company has sought a covenant waiver from its lender in respect of the 31 January 2024 covenant test date. A further announcement will be made in due course.
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