Dividend payer Convatec raised its guidance for 2024 following better-than-expected revenue growth.

Organic revenue growth for the first 10 months of 2024 to the end of October reached 7.7%, beating prior expectations of growth of between 5% to 7%.

The medical company’s adjusted operating profit margins also jumped by 21.5%.

Convatec attributes its improved revenue growth to the diversity of its product portfolio, new product launches, and improved operational efficiency.

Divisions including its Advanced Wound Care and Continence Care are helping to drive growth in the business.

Year to date, Convatec stock is up 2.56% to £2.48 just shy of Morningstar’s Fair Value Estimate for the business at £2.71.

Convatec paid a half yearly dividend of 1.42p as of October 4 2024.

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