Supply chain issues delay revenues for Concepta
UK healthcare company Concepta received notice of a £600,000 order from one of its distributors for November but noted that due to third-party constraints, revenue from the order would not be realised until the first quarter of the 2018 financial year.
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The firm noted that orders had been increasing during the second half of October and that with further distributors having been appointed in November Concepta's board expected the delayed revenue to be additive to the group's 2018 budget.
In order to prevent any future delays with the supply chain, David Darrock, recently appointed chief operating officer, was set to head the supply chain management process between Concepta and the UK and Chinese manufacturers of its myLotus products to ensure future volume requirements would be met.
Erik Henau, chief executive of Concepta, said, "Despite the supplier constraints, the company has made significant progress this year, establishing initial revenues and a growing order book, and the board expects 2018 to be a transformational year for the company."
He added, "We see a considerable opportunity for myLotus to become an integral tool for healthcare systems to provide personalised healthcare with better patient outcomes at reduced healthcare costs."
As of 1650 GMT, shares had slipped 7.04% to 8.25p.