Published on: September 29, 2021
Short-term headwinds
The very strong sales performance in H1 last year, driven primarily by demand for HeiQ Viroblock, was always going to prove a tough sales comparative for HeiQ. This has been compounded by challenging trading conditions, principally arising from macro-economic supply chain pressures, most notably the global price increase in freight and raw materials costs and availability. While H1 profitability is subsequently down year-on-year, it is up on H2 FY20. With the trends underpinning the groups long-term growth strategy very much in evidence, HeiQ has continued to invest in its future growth. While HeiQ will seek to further mitigate the prevailing short-term supply headwinds over the coming months, our forecasts have been revised to reflect these current pressures.