StockMarketWire.com - Medical products and technologies company ConvaTec said revenue grew 2.4% in the third quarter of the year as unfavourable foreign exchange moves kept a lid on growth.
Revenue for the three months to 30 September 2019 was $462.9m, 2.4% higher on a reported basis and 4.6% higher on an organic basis compared with the prior year, in part reflecting the benefits of some short-term tailwinds, the company said.
The company left its outlook unchanged and said its transformation initiative remained on track.
The outlook for the group for 2019 was unchanged with organic revenue growth expected to be in the range of 1.0% to 2.5% and adjusted earnings (EBIT) margin in the range of 18% to 20%, the company said.
Story provided by StockMarketWire.com
Shares Magazine
Shares is the leading weekly publication for retail investors. It is packed with investment ideas, news and educational material to help build and run portfolios and get more from your money.
Investor Events
Shares puts on free Investor Events throughout the year across the country. They provide an opportunity for investors to learn more about companies on the stock market and hear from a range of investment experts including fund managers and Shares journalists.