Inspiration Healthcare sees surge in its profit levels

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Medical supply company Inspiration Healthcare grew its revenues 10 per cent to £7.1m during the first half of this year following a solid six months of trading.

The Rotherham-based business saw its operating profits rise to £580,000, a 12 per cent increase on the previous period of trading.

The rise has been driven largely by surges in international sales, with a 19 per cent growth in trade seen across its clients in America and Europe.

International trade could be set increase even further with the company having told investors it was set to meet regulatory requirements for expansion into Russia.

The results have seen a delivery per share of 1.6 pence before exceptional and impartment was factored in.

The results also saw Inspiration report that its net cash was up £700,000 to £3m.

Bosses reported an positive outlook, saying the Brexit vote had not impacted on trading and that it was successfully managing risks associated with the loss in the value of Sterling.

It also announced a number of new product launches, including the rPAP system, Alpha universal mattress and Tecotherm Helix.

The firm said it was eyeing organic growth for the next 12 months and was seeking to expand upon its strong relationships with academia in order to “source next generation products”.

It also would not rule out further acquisitions, provided they were “at the right time and price” it said.

Inspiration now employs 65 people with the group looking to boost this by 10 per cent over the next 18 months.

In July it was showcased at a investor event in Leeds organised by small shareholder champion ShareSoc.

The business primarily retails medical products including neonatal body cooling devices, brain monitoring systems and oxygen delivery equipment to adult and neonatal intensive care in the UK.

It also trades with neonatal units abroad.

The company was created just last year following the merger of its forerunner Inspiration Healthcare Limited and AIM-listed medical equipment supplier Inditherm.