Consort Medical plc
Interim Management Statement
Consort Medical plc (LSE: CSRT), today issues its Interim Management Statement for the period from 1 November to date.
Bespak has continued to trade strongly with encouraging valve and device shipments. Launch stocks are already being manufactured for three of the customer programmes scheduled for launch in 2012 and good progress has been made across the development portfolio. In particular, we are pleased that prototype Point Of Care (POC) diagnostic cartridges have been shipped to Atlas Genetics for evaluation, and that product was supplied on schedule to Kind Consumer for clinical trials.
Underlying demand for King Systems’ core products in the US has continued to be consistent with the prior year. We have experienced good growth in sales of airway management products, especially the King Laryngeal Tube range. The King Vision video laryngoscope continues to grow revenues in line with expectations, with particular traction in the Emergency Medical Service (EMS) setting. In response to the potential size of the EMS opportunity, we have been pleased to enter into a non-exclusive distribution agreement with Bound Tree, a leading distributor of medical devices in the EMS segment, to expand our market access in this important segment.
There has been no significant change in the Group’s financial position since the publication of the Group’s interim results for the six months ended 31 October 2011 in December 2011. The Group remains strongly cash generative.
The Board remains confident about the outlook for the full year.