LONDON (dpa-AFX) - Medical products and technologies company Convatec Group Plc (CTEC.L, CNVVY) reported strong year-to-date organic revenue growth of 6.7%, excluding InnovaMatrix, with broad-based gains across all categories. When including InnovaMatrix, organic revenue growth stood at 6.2%, while reported growth reached 5.1%.
The company has tightened its financial guidance for fiscal year 2025. It now expects group organic revenue growth-excluding InnovaMatrix-to be in the range of 5.5%-7.0%, compared to the previous estimate of 5.0%-7.0%. InnovaMatrix revenues are anticipated to reach at least $75 million, while revenue growth guidance for each category remains unchanged.
Additionally, the company remains on track to achieve an adjusted operating profit margin of 22.0-22.5%, an improvement from fiscal year 2024's 21.2%, and is set to deliver another year of double-digit adjusted earnings per share growth.
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