Convatec backs full-year outlook, points to stronger H2
By Benjamin Chiou
Date: Tuesday 04 Aug 2026
(Sharecast News) - Convatec reiterated its full-year guidance on Tuesday after delivering first-half results in line with expectations, with the medical products group forecasting stronger revenue and margins in the second half.
The FTSE 100 company narrowed its forecast for 2026 organic revenue growth, excluding InnovaMatrix, to between 5.5% and 6.5%, from a previous range of 5% to 7%.
It expects organic growth of between 6% and 8% in the second half, led by an acceleration in its Infusion Care business.
Convatec also maintained its forecast for an adjusted operating margin of at least 23%, double-digit adjusted earnings-per-share growth and equity cash conversion of around 100%.
The company said its second-half operating margin would be "materially higher" than the 21.2% recorded in the first six months of 2026, reflecting its normal second-half revenue weighting, faster Infusion Care growth, reduced InnovaMatrix headwinds and further productivity savings.
Revenue for the half ended 30 June rose 4.4% to $1.23bn, while organic growth excluding InnovaMatrix was 5%.
Adjusted operating profit increased 3.9% to $262m, although reported operating profit fell 36.1% to $115m after a $69m impairment related to InnovaMatrix. Adjusted diluted earnings per share rose 6.3% to 8.5 cents.
Chief executive Jonny Mason said: "We are on track for another year of margin expansion and double-digit EPS growth. We expect to accelerate growth in H2, supported by new product launches, improving execution and our great team of Convatec colleagues."
Convatec also announced a $200m share buyback and raised its interim dividend by 15.4% to 2.166 cents per share.
As of 1407 BST, shares in Convatec were up 1.2% at 228.2p.
Email this article to a friend
or share it with one of these popular networks:
You are here: news
10 Lower Thames St,
London EC3R 6EN