Consort Medical, parent company of device manufacturer Bespak and CDMO Aesica, has announced that its pre-tax profits for fiscal year 2017 almost doubled from FY 2016, rising from £11.3 million to £21.9 million. Bespak earnings before interest and taxes (EBIT) rose 3.9% and Aesica’s EBIT rose 17.7%.
Consort acquired Aesica in 2014, and in November 2015, the company announced that it was creating a single source supply chain for OINDPs by combining the services of Aesica and Bespak.
The company cited Bespak’s contract to supply components for AstraZeneca’s Bevespi Aerosphere inhaler, which was announced in September 2016, as a highlight of FY 2017.
Consort CEO Jon Glenn commented, “Consort has again delivered further growth in revenue and profit in both divisions. Bespak has continued to make good progress with its diverse pipeline of product opportunities in this high margin business. Aesica continues to improve its operating performance and its margins in line with our expectations, assisted by recent contract wins.”
Read the Consort Medical results announcement.
