FY 2022 results were in line with the July trading update, with revenues of £31.1m (flat, albeit continuing product sales +3% and masking 15% growth in H2) and adjusted pre-tax profit of £4.5m. With NHS Supply stock levels now normalised, the company indicated 20% sales growth Q1 2023. We upgrade FY 2023 adjusted EBITDA and PBT by 6% and 8%, respectively, and introduce FY 2024 forecasts, which call for adjusted PBT of £6.8m (+13%) and adjusted EPS of 11.6p (+9%) that exclude the impact of potent ....
