Inspiration Healthcare Group PLC on Tuesday said trading for the start of 2023 has met its expectations, but remains cautiously optimistic.

Ahead of its annual general meeting on Tuesday, the Crawley, England-based medical technology company producing specialist neonatal intensive care medical devices said trading in the current financial year has ‘started in line with management expectations’.

Inspiration Healthcare cited a recovery in gross margins due to improved sales in the first quarter of the year, and noted this trend has been maintained throughout the second quarter.

Revenue expectations in the second quarter of 2023 have exceeded those achieved in the first three months of the year. The company added it remains cash flow positive.

Looking ahead, Inspiration Healthcare said it remains ‘cautiously optimistic’ that it will return to its usual growth patterns. Additionally, the company said its order book remains healthy and expected full-year revenue to be weighted in the second half of 2023.

Shares in Inspiration Healthcare were down 0.9% at 55.50 pence each in London on Tuesday afternoon.

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