Convatec Group (CTEC)

Sector:

Health Care

Index:

FTSE 100

285.80p
   
  • Change Today:
    -3.40p
  • 52 Week High: 290.20
  • 52 Week Low: 196.20
  • Currency: UK Pounds
  • Shares Issued: 2,049.79m
  • Volume: 1,154,470
  • Market Cap: £5,858m
  • RiskGrade: 96

ConvaTec sees organic revenue growth at upper end of guidance

By Michele Maatouk

Date: Friday 29 Oct 2021

LONDON (ShareCast) - (Sharecast News) - Medical products company ConvaTec said on Friday that full-year organic revenue growth is set to be towards the upper end of its guidance range after an in-line third-quarter performance, which saw sales slow from the second quarter.
Reported revenue grew 3.7% on the year in the three months to the end of September, to $511m. ConvaTec highlighted continued momentum in Advanced Wound Care, modest growth in Ostomy Care and Continence Care, and declines in Infusion Care and Critical Care, as expected against tough prior year comparatives.

Group revenue for the nine months to 30 September was up 5.4% on an organic and constant currency basis.

ConvaTec said it now expects organic revenue growth towards the top end of its guidance range of between 3.5% and 5%, with a constant currency adjusted EBIT margin of 18% to 19%.

Chief executive officer Karim Bitar said: "During Q3, we continued to drive good momentum in the business and made further strategic progress implementing key transformation initiatives and improving execution. As expected, the growth in the third quarter slowed from Q2 given the relatively tougher comparatives. Notwithstanding the continuing uncertainties in the market, particularly around logistics and raw material inflation, for the full year we expect to be towards the upper end of our organic revenue guidance and to meet our EBIT margin guidance.

"We remain focused on pivoting to sustainable and profitable growth and are making good progress - I am confident in ConvaTec's long-term growth prospects."

At 0830 BST, the shares were up 2.8% at 203.60p.

Email this article to a friend

or share it with one of these popular networks:


Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

CTEC Market Data

Currency UK Pounds
Share Price 285.80p
Change Today -3.40p
% Change -1.18 %
52 Week High 290.20
52 Week Low 196.20
Volume 1,154,470
Shares Issued 2,049.79m
Market Cap £5,858m
RiskGrade 96

CTEC Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
98.41% below the market average98.41% below the market average98.41% below the market average98.41% below the market average98.41% below the market average
100% below the sector average100% below the sector average100% below the sector average100% below the sector average100% below the sector average
Price Trend
89.03% above the market average89.03% above the market average89.03% above the market average89.03% above the market average89.03% above the market average
89.19% above the sector average89.19% above the sector average89.19% above the sector average89.19% above the sector average89.19% above the sector average
Income
91.16% below the market average91.16% below the market average91.16% below the market average91.16% below the market average91.16% below the market average
42.86% above the sector average42.86% above the sector average42.86% above the sector average42.86% above the sector average42.86% above the sector average
Growth
36.6% below the market average36.6% below the market average36.6% below the market average36.6% below the market average36.6% below the market average
55.56% below the sector average55.56% below the sector average55.56% below the sector average55.56% below the sector average55.56% below the sector average

What The Brokers Say

Strong Buy 6
Buy 8
Neutral 5
Sell 0
Strong Sell 0
Total 19
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

CTEC Dividends

  Latest Previous
  Final Interim
Ex-Div 25-Apr-24 17-Aug-23
Paid 23-May-24 28-Sep-23
Amount 4.46¢ 1.77¢

Trades for 28-Mar-2024

Time Volume / Share Price
14:42 897 @ 285.80p
14:42 1,023 @ 286.00p
14:42 275 @ 286.00p
14:42 374 @ 286.00p
14:42 1,423 @ 286.00p

CTEC Key Personnel

CEO Karim Bitar
Chair John McAdam
CFO Jonny Mason

Top of Page