CONSORT Medical, which makes inhalers and other medical equipment, yesterday said it believes its results for the year to 31 October will be "in line with market expectations".
In a pre-close statement delivered to the stock exchange, Consort said the group was "performing well" and that its two divisions – Bespak and King Systems – make products for markets that are "relatively unaffected by the economic cycle and may be seen as defensive in the current conditions".
Bespak, which makes asthma inhalers, has increased its global market share over the past five years from about 28 per cent to about 40 per cent, Consort said.
The company said it has left its Milton Keynes site but does not expect to be able to sell it "in the near future" due to market conditions. Consort's King Systems makes oxygen masks and other airway equipment. King Systems "delivered continuing sales growth in the first half, but performed slightly below expectations" due to "a voluntary minor product recall".
Consort, which has a market cap of about 110 million, is due to announce its full-year results on 11 December.