February 15, 2018 / 7:29 AM / 6 months ago

Britain's ConvaTec 2017 profit down 3.3 percent on supply issues

Feb 15 (Reuters) - British medical devices firm ConvaTec said 2017 profit fell 3.3 percent, bogged down by supply issues at its top two divisions and lower sales from new products.

ConvaTec, which makes catheters and colostomy bags, said adjusted operating profit fell to $456.8 million from $472.2 million a year earlier.

However, organic revenue rose 2.3 percent to $1.76 billion, marginally higher than its expected guidance range of 1-2 percent growth.

Reporting by Justin George Varghese in Bengaluru; Editing by Sunil Nair

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