February 15, 2018 / 7:23 AM / 3 months ago

BRIEF-Convatec Sees FY 2018 Organic Revenue Growth Of 2.5% - 3.0%

Feb 15 (Reuters) - Convatec Group Plc:

* FY ‍GROUP REPORTED REVENUE OF $1,764.6 MILLION GREW 4.5% YEAR ON YEAR, 4.1% 3 CER OR 2.3% 4 ORGANICALLY VERSUS. REVISED GUIDANCE OF 1% TO 2% ORGANIC REVENUE GROWTH​

* FY ‍ADJUSTED GROSS MARGIN INCREASED 10 BPS, INCLUDING 80 BPS FOREIGN EXCHANGE BENEFIT​

* FY ‍UNDERLYING 70 BPS DECLINE, IN-LINE WITH REVISED GUIDANCE​

* FY ‍REPORTED OPERATING PROFIT $247.8 MILLION, 60.9% INCREASE YEAR ON YEAR​

* FY ‍ADJUSTED OPERATING PROFIT $456.8 MILLION, 3.3% LOWER YEAR ON YEAR DUE TO INCREASED INVESTMENT IN GROWTH AND INCLUSION OF PLC COSTS​

* FY ‍SUPPLY CONSTRAINTS PREVIOUSLY REPORTED IN ADVANCED WOUND CARE AND OSTOMY CARE NOW RESOLVED​

* ‍FULL YEAR DIVIDEND 5.7 CENTS​

* ‍SEES 2018 ORGANIC REVENUE GROWTH OF 2.5% - 3.0%​

* ‍SEES DECLINE IN EBIT MARGIN IN 2018 DUE TO DECISION TO INCREASE TARGETED INVESTMENT, DESPITE TEMPORARY SHORTFALL IN REVENUE GROWTH​ Source text for Eikon: Further company coverage: (Bangalore.newsroom@thomsonreuters.com)

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