This division has a large USD skew, so revenues were well supported by weak GBP during the period; organic revenue +4.6% (-0.4% constant FX), revenue incl. Systagenix and ConvaTec +23.0% (+16.7% constant FX). Management expects H2 to benefit from new products and technology transfers, and the cost-out program at Systagenix is progressing in line with expectations.
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H1 update: Difficult end markets, H2 weighting
- Published:
11 Oct 2019 -
Author:
Michael White -
Pages:
6
This division has a large USD skew, so revenues were well supported by weak GBP during the period; organic revenue +4.6% (-0.4% constant FX), revenue incl. Systagenix and ConvaTec +23.0% (+16.7% constant FX). Management expects H2 to benefit from new products and technology transfers, and the cost-out program at Systagenix is progressing in line with expectations.