Convatec Group (CTEC)

Sector:

Health Care

Index:

FTSE 100

233.80p
   
  • Change Today:
      0.20p
  • 52 Week High: 248.60
  • 52 Week Low: 168.35
  • Currency: UK Pounds
  • Shares Issued: 2,043.87m
  • Volume: 2,750,676
  • Market Cap: £4,778.57m
  • RiskGrade: 96

ConvaTec raises FY outlook as YTD revenues improve

By Iain Gilbert

Date: Thursday 10 Nov 2022

LONDON (ShareCast) - (Sharecast News) - Medical products and technology firm Convatec upgraded its full-year guidance on Thursday as it reported group revenues had grown 2.4% on a reported basis over the ten months ended 31 October.
On a constant currency basis, revenue was up 7.8% and was up 6.3% on an organic basis. Following "sustained good sales growth", Convatec also increased its guidance for 2022 organic revenue growth to 5.4-5.8% from 4.0-5.5%.

Convatec said its advanced wound care unit had seen "high single-digit" organic revenue growth over the first ten months of the year, while ostomy care revenues were up low single digits, and continence and critical care revenues were up mid-single digits. Infusion care revenues were up double-digits for the first 10 months, slightly lower than in the first half.

For the year as a whole, Convatec said: "Inflation in raw materials and freight has moderated in recent months, but inflation in utilities and labour has increased. Overall, we continue to expect COGS inflation of 8-9% for the year and we continue to expect to deliver constant currency adjusted operating profit margin of at least 18%.

"Foreign exchange rate movements have been volatile in recent months. The FX impact on 2022 is currently estimated to be a ~6% headwind on revenue growth with a ~90bps tailwind to the EBIT margin. These estimates are based on actual rates to 31 October and spot rates for the remainder of the year. On this basis, we expect to publish an adjusted operating profit margin of over 19%."

As of 0850 GMT, Convatec shares were up 5.19% at 222.80p.







Reporting by Iain Gilbert at Sharecast.com

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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 233.80p
Change Today 0.20p
% Change 0.09 %
52 Week High 248.60
52 Week Low 168.35
Volume 2,750,676
Shares Issued 2,043.87m
Market Cap £4,778.57m
RiskGrade 96

CTEC Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
99.13% below the market average99.13% below the market average99.13% below the market average99.13% below the market average99.13% 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
75.42% above the market average75.42% above the market average75.42% above the market average75.42% above the market average75.42% above the market average
89.74% above the sector average89.74% above the sector average89.74% above the sector average89.74% above the sector average89.74% above the sector average
Income
97.4% below the market average97.4% below the market average97.4% below the market average97.4% below the market average97.4% 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
Growth
21.36% below the market average21.36% below the market average21.36% below the market average21.36% below the market average21.36% below the market average
42.86% below the sector average42.86% below the sector average42.86% below the sector average42.86% below the sector average42.86% below the sector average

What The Brokers Say

Strong Buy 6
Buy 5
Neutral 4
Sell 3
Strong Sell 0
Total 18
buy
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CTEC Dividends

  Latest Previous
  Interim Final
Ex-Div 25-Aug-22 31-Mar-22
Paid 06-Oct-22 19-May-22
Amount 1.72¢ 4.15¢

Trades for 30-Jan-2023

Time Volume / Share Price
16:35 1,755,925 @ 233.80p
16:35 16,444 @ 233.80p
16:35 16,409 @ 233.80p
16:35 16 @ 233.80p
16:35 2,991 @ 233.80p

CTEC Key Personnel

CEO Karim Bitar
Chair John McAdam
CFO Jonny Mason

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