Crawford defies declining pound to celebrate spectacular global growth
Cheshire-based international advanced wound care (AWC) and dermatology company Crawford Healthcare has announced a formidable start to the financial year, recording global revenue of £14.9m.
For the six months ended September 30, the Knutsfored-headquartered firm enjoyed a like-for-like turnover increase of 19% on the comparable period last year (2016: £13m).
Having experienced 47% compound average annual growth in AWC sales globally over the last three years, Crawford maintains its position as the fourth largest and fastest-growing AWC company in the UK.
Exceptional global growth has bolstered the company against a declining pound, with US dollar revenues up by 43% on the comparable period in 2016, and German sales growing by 64%.
Crawford chief executive Richard Anderson said: “As anticipated, we’ve enjoyed an extraordinarly strong first six months across our direct markets.
“Our UK operation continues to go from strength to strength as we seize market share from the global leading brands promoted by much larger corporations.
“We’ve invested significantly in our international teams in a bid to replicate our UK success in new global territories, whilst at the same time delivering enhanced UK and group profitability.
“Our collective hard work in delivering our class-leading products to clinicans and patients across the world has cemented our status as a disruptive force in the international wound care market.”
The half-year financial figures follow Crawford’s successful US launch of its KerraCel Ag range earlier this year, a world-first FDA cleared AWC dressing which uses silver in its most active state to fight aggressive, antibiotic-resistant wounds, which often affect diabetic and ageing populations.
Anderson concluded: “We’re committed to growing a portfolio of products which we believe are class-leading in terms of addressing the key challenges faced by clinicians and patients, particularly those who are vulnerable to chronic wounds.
“Our success in saving real patients from losing limbs, whether due to infected diabetic ulcers or chronic wounds, with game-changing products like KerraCel Ag sums up why we operate in this space and why our people are so passionate about what we do.”
