LONDON (dpa-AFX) - Consort Medical plc (CSRT.L), global, single source drug and delivery device company, reported that its profit before tax for the year ended 30 April 2018 declined to 17.3 million pounds from 21.9 million pounds last year.
Jon Glenn, Chief Executive Officer of Consort Medical, said, 'We continue to deliver our organic growth strategy while considering potential acquisitions that allow access to new geographic markets and complementary technologies. The Board is confident of Consort's future prospects supported by a robust financial position and a strong development pipeline. The Board's expectations for the current financial year remain unchanged.'
Profit for the financial year was 16.1 million pounds, down from 22.6 million pounds in the previous year. Basic earnings per share declined by 28.8% to 32.9 pence from the prior year as a result of the restructuring and impairment charges during the year and the low tax charge in the prior year.
Adjusted basic earnings per share decreased by 0.9% to 64.5 pence from last year, as the previous year included a particularly low tax charge.
But, Group revenue increased by 5.8% to 311.1 million pounds from last year's 294.0 million pounds, with underlying growth of 4.4% at constant exchange rates. The Board proposed an increased final dividend of 13.56 pence per share(13.21 pence per share paid last year), making a total dividend for the year of 21.0 pence per share(20.3 pence per share paid in the prior year).
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