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Medical device developer Belluscura said demand and sales for its portable oxygen concentrator had exceed expectations.
'Demand for, and delivery of, the X-PLO2R portable oxygen concentrator has exceeded our most recent update of 4 November 2021,' the company said.
Since the launch of X-PLO2R in September 2021, the group had sold 377 units, 25% above current consensus forecasts and 150% above initial forecasts for 2021.
'Recognising the current global supply chain challenges, the company has significantly increased inventory levels of key components and other raw materials to pre-empt any potential disruption on production levels allowing them to be maintained in the current financial year and beyond,' the company said.
Looking ahead, the company said development of the follow-on products, the X-PLO2R CX and X-PLO2R DX, continued to progress well with the expected launch of 'these next generation products to be in Q2 2022 and Q3 2022 respectively.'
Preliminary results for the year to 31 December 2021 were expected to be released in mid-February.