An inspirational technology play – Investors Chronicle

Crawley-based Inspiration Healthcare (IHC:94p), a fully integrated medical technology company with a strong focus on the high-growth neonatal intensive care market, has delivered annual results slightly ahead of the raised guidance provided at the pre-close trading update (‘Hunting down lowly rated tech plays’, 22 February 2022). At the time house broker Cenkos Securities pushed through double-digit increases in its forecasts for both cash profit (to £6.2mn) and operating profit (£4.1mn).
Even though input costs (freight, energy and silicon chips) have been rising, as is the case in most industries, Inspiration’s gross margin increased by 1.5 percentage points to 50.2 per cent. This highlights the ability of management to manage the product portfolio and extract efficiencies to counter inflationary pressures. Equally important, the directors report a high order book and ongoing strong demand for the group’s products.
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