ConvaTec Group Plc has raised its medium-term organic revenue growth target to a range of 6% to 8%, up from the previously expected 5% to 7%.
This upward revision is attributed to a strengthening medical product pipeline and successful new product launches, including advanced wound care dressings. The British medical device company reported a more than 12% increase in annual adjusted operating profit, reaching $544 million compared to $485 million in the prior year.
Despite this positive outlook, the company anticipates that lower revenue from its InnovaMatrix skin-graft product and incremental tariff costs may slightly impact its first-half adjusted operating margin. ConvaTec reiterated its fiscal 2026 organic sales growth forecast of 5% to 7%, excluding InnovaMatrix.
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