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Investing.com - ConvaTec Group PLC (LSE:LON:CTEC), a global medical products and technologies company, has tightened its organic revenue growth guidance for the year, reflecting steady performance across its divisions.
The company said on Thursday said it now expects organic revenue growth of 5.5-7.0%, excluding Innovamatrix, compared to its previous guidance of 5.0-7.0%.
Year-to-date organic revenue growth stood at 6.2%, or 6.7% excluding Innovamatrix, with reported growth at 5.1%.
The company maintained its adjusted operating profit margin target at 22.0-22.5%.
ConvaTec reported varied performance across its divisions. Advanced Wound Care saw low single-digit growth, excluding Innovamatrix, which experienced a decline.
However, the outlook for Innovamatrix improved following the postponement of the Local Coverage Determination on US skin substitutes.
Ostomy Care achieved mid-single-digit growth, while Continence Care reported mid-to-high single-digit growth. Infusion Care demonstrated double-digit growth.
The company reassured investors regarding potential tariff impacts, stating it expects no material financial effect and that any incremental costs would be included within existing guidance.
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