Inspiration Healthcare Group PLC on Wednesday said its annual pretax loss widened amid higher costs and impairment charges, though it pointed to sales momentum in the second half and a strong start to the new financial year under its recently appointed chief executive officer.

Shares in Inspiration Healthcare were down 5.8% at 18.38 pence on Wednesday afternoon in London.

The Croydon, England-based healthcare technology company reported a pretax loss of £15.7 million for the year to January 31, widening from £5.7 million a year earlier. The loss included £12.8 million in non-recurring items, such as a £10.3 million impairment charge and £1.6 million in restructuring costs.

Revenue edged up 1.7% to £38.3 million from £37.6 million, with growth in its Infusion Therapies and Specialty Ventilation units offsetting a 15% decline in Neonatal product sales. The gross margin narrowed to around 43% from 48%, and the adjusted Ebitda dropped to £200,000 from £2.0 million.

Inspiration Healthcare said no final dividend was recommended for financial 2025, unchanged from the prior year. It paid no total dividend, compared to 0.205 pence per share a year earlier.

Chief Executive Officer Raffi Stepanian, who took over in January, said the business had shown a ‘great turnaround’ in the second half, helped by renewed commercial focus and international sales. ‘We start financial 2026 with a strong order book,’ he added, noting the impact of key contract wins in the Middle East and with a global humanitarian organisation.

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