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Medical technology company ConvaTec upgraded its outlook on revenue after reporting a rise in revenue in the third quarter of the year.
'We now expect organic revenue growth to be towards the upper end of our 3.5-to-5.0% guidance range with a constant currency adjusted EBIT margin of 18.0-19.0%,' the the company said,
This equates to guidance of 17.4-to-18.4% for the published adjusted earnings before interest, or EBIT, margin.
The company reported third-quarter reported revenue of $511 million, up 3.7% higher year-on-year.
There was continued momentum in advanced wound care, modest growth in ostomy care and continence Care, but infusion care and critical care declined against 'tough' prior year comparatives, the company said.
'Notwithstanding the continuing uncertainties in the market, particularly around logistics and raw material inflation, for the full year we expect to be towards the upper end of our organic revenue guidance and to meet our EBIT margin guidance,' the the company said.