Inspiration Healthcare Group shares (LON: IHC) surged almost 20% on Tuesday as it revealed interim results for the six months ending 31 July 2020.
Total group revenue soared 77% to £14.2m, whilst operating profit increased 122% to £1.1m.
The medical technology provider was a significant contributor to the UK Ventilator Challenge, sourcing over 500 adult ventilators.
Thanks to the strong interim results, Inspiration Healthcare Group has said that it expects to exceed market expectations for the current financial year.
Profit after tax of £0.8 million increased by 95% compared to the same period last year.
Chief executive, Neil Campbell, commented on the results: “I am delighted to be able to report on such a positive first half of this financial year.
“Despite the operating challenges caused by Covid-19, our underlying growth was strong, demonstrating the robustness of our business model and our agility to be able to adapt to new situations quickly. Acquiring SLE has transformed the Group and, in the past few weeks we have confirmed our thinking about the exciting opportunities it brings and its potential to deliver more benefits. We have started the process to integrate it into the Group as a major step on our journey to become a world leader in Neonatal Intensive Care.
“We are pleased to declare our maiden interim dividend and are confident of further strong growth during the rest of the year and beyond,” he added.
Inspiration Healthcare Group (LON: IHC) shares are trading +12.90% at 70,00 (0825GMT).
