Proactive Investors - Inspiration Healthcare Group PLC (LON:IHC) said it continues to win "substantial" orders for its products, including in Ukraine and Thailand, although the continuing economic uncertainty is affecting its markets.
The medical technology company said the ongoing lockdowns in China are having a “disruptive effect”, with the enforced measures impacting access to major customers.
As a result, the company does not expect sales to exceed last year's numbers and believes the knock-on effect means second-half underlying earnings (EBITDA) will be below the first half.
"None of us could have predicted the events that have caused so much disruption in the world in recent times, nor the financial impact that these would have on our business,” said chief executive officer Neil Campbell.
“The factors influencing our partners around the world, particularly in the last couple of months, has meant that we have had to adjust our forecasts for growth as this has had the effect of delaying our progress and growth by a year, but we remain confident in the prospects for Inspiration Healthcare and our ambitions are undiminished."
Inspiration also said its move to a new location has been completed which provides a “solid platform for long-term growth”. Although the new premises slightly increase its cost base from the next financial year, it expects to make savings of £500,000 from efficiencies across the business.