02/12/2011

Consort Medical, the Hertfordshire-headquartered manufacturer of medical devices, has experienced a significant rise in its interim pre-tax profits thanks to increased demand for its pioneering range of medical inhalers.

The strong performance of the company's Bespak division, which specialises in the development of asthma and anaesthesia medical devices, has helped Consort register a 20 per cent rise in its pre-tax profit before special items.

Consort's chief executive, Jon Glenn, said that the improvement was the positive result of a change of business strategy several years ago.

"These are record revenues and underlying profits after 51 years in business," he explained. "We have completely restructured the business, broadened the portfolio ... and it's starting to pay off. Bespak in particular had a strong period, especially in the respiratory segment."

Since the restructuring of Consort, they have signed three major contracts, including one for a new nicotine inhaler for people seeking to quit smoking. Glenn said they had been manufacturing and assembling the trial device recently, with a view to officially launching it commercially in mid-2014.

He added, "We're really bullish about the company at the moment, considering the global economic environment that we’re all sitting in."