By Najat Kantouar
Inspiration Healthcare Group, a leading medical-technology company, has reported a swing to pretax loss for the first half of the year. The company attributes this to increased financial costs, resulting from higher interest rates and higher net debt.
For the six months ended July 31, the company’s pretax loss stood at £140 million ($169.2 million), compared to a profit of £885 million for the same period the previous year. Adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA), a key metric used by the company, was £1.8 million in H1, down from £2.2 million. This decline is primarily due to increased operating expenses resulting from wage inflation.
During this period, Inspiration Healthcare also witnessed a slight drop in revenue, falling from £20.5 million to £20.4 million. This decrease can be attributed to regulatory delays and de-stocking issues from one of its leading Infusion customers.
Dividend payment and future outlook
The company’s board has confirmed that the interim dividend payment will remain flat at 0.205 pence per share. However, Inspiration Healthcare remains optimistic about the future. The company expects a return to growth in the second half of the year, thanks to a strong pipeline of opportunities.
At 07:54 GMT, shares of Inspiration Healthcare Group were down 2.3% at 42.0 pence.