ConvaTec on transformation track, despite first quarter blip

Karim Bitar will take office as CEO in September
ConvaTec, the Deeside-based medical products and technologies group, reported a 6% fall in first quarter revenues today, which it said was caused by a one-off expense. The firm, which is undergoing a transformation initiative, said trading was in line with expectations and would have been "broadly flat" but for the one-off payment. Total revenues for the three months to March 31, were £330.4m, compared with £351.58m at the same stage last year. ConvaTec said the fall in revenues was due to a change of accounting methodology... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...
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