ConvaTec Group PLC (CTEC.L)
16 Mar 2018
British medical devices maker ConvaTec posted better than expected 2017 profit and revenue on Thursday after supply chain problems that it said have now been resolved, lifting its share price by nearly 7 percent.
* Supply disruption issues not as bad as feared -Bernstein (Recasts, adds share price reaction, CEO and analysts comment)
Feb 15 British medical devices firm ConvaTec said 2017 profit fell 3.3 percent, bogged down by supply issues at its top two divisions and lower sales from new products.
* FY GROUP REPORTED REVENUE OF $1,764.6 MILLION GREW 4.5% YEAR ON YEAR, 4.1% 3 CER OR 2.3% 4 ORGANICALLY VERSUS. REVISED GUIDANCE OF 1% TO 2% ORGANIC REVENUE GROWTH
LONDON Medical device firm ConvaTec was bruised after a profit warning on Monday, but mining companies stemmed broader losses on the FTSE share index.
* GKN suffers broker downgrades (Adds detail, updates prices at close)
LONDON, Oct 16 Medical device firm Convatec was bruised in early deals after a profit warning, but failed to drag down the broader FTSE share index as mining companies cemented British stocks.
Medical technology company ConvaTec Group Plc on Monday slashed its full-year organic revenue growth forecast after supply issues hurt its third quarter, wiping off a fifth of its market value.
* Supply issues to hurt full-year revenue growth, margins (Adds share movement, analyst and company comments)