- Medical device company Inspiration Healthcare declared its maiden interim dividend and said it expected to 'materially' exceed market expectations for the current financial year after reporting a jump in first-half profit.

For the six months ended 31 July 2020, pre-tax profit jumped to £1.07 million from £483,000, while revenue was up 77% to £14.2m.

Revenue was boosted by 'some capital equipment orders from the NHS being brought forward and some pent up demand in our order book from the end of the previous financial year being released, along with our expected growth in the underlying business,' the company said.

The performance also benefited from a contribution of 4 weeks of sales from the recently acquired SLE Ltd. 'This additional acquired revenue along with the contribution of Viomedex accounted for £1.2 million (excluding 'one time' adult ventilator sales) compared to the same period last year,' it added.

The company declared its maiden interim dividend of 0.2p a share.

'Given the success in the first half, we expect to materially exceed market expectations in the full year and will maintain momentum into next year,' the company said.

At 9:31am: [LON:IHC] Inspiration Healthcare Group share price was +6.25p at 68.25p

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