INSPIRATION HEALTHCARE GROUP PLC (IHC) — Interim results presentation

Investor webinar replay

Replay transcript excerpt

Good morning, and welcome to the INSPIRATION HEALTHCARE GROUP PLC Interim Results Investor Presentation. Throughout this recorded presentation, investors will be in listen only mode. Questions are encouraged, and they can be submitted at any time using the Q and A tab situated on the right hand corner of your screen. Simply type in your questions and press send. The company may not be in a position to answer every question received during the meeting itself. However, the company can review all questions submitted today and publish responses when it's appropriate to do so. Before we begin, I would like to submit the following poll, and I would now like to hand you over to CEO, Roy Davis. Good morning to you. Good morning. Thank you. Good morning, everybody, and welcome. My name is Roy Davis. I'm actually executive chairman and interim CEO of INSPIRATION, at this point in time. For those of you I've not had the opportunity to speak to before, I joined INSPIRATION as a nonexecutive director and chair designate in January and then became chairman in March, subsequently becoming executive chairman in May. So it's a pleasure to be able to talk to you today and update you on what's going on at INSPIRATION. I'll take you through the slides one by one. So if we move on to our overview slide, As we've titled it here, it is a challenging time for the business. Overall, our H1 revenues were down 17% on prior year. Most of that fall has actually been in our neonatal business where sales declined by 26%. Part of the driver of that were discontinued products. We took about £2,000,000 worth of product sales out of the portfolio mainly due to difficulty in meeting MDR requirements. But also, our UK sales were down 20% on prior year. As some of you may be aware, we actually did a rest...