Belluscura US imports to be subject to 20pc tariff

Medical device company Belluscura warned on Wednesday that it expects products sold in the US to be subject to a tariff production cost impact of as much as 20%.

Belluscura stated revisions to the US Harmonized Tariff Schedule would have a direct impact on trading, with new rules will see all imports from China and Hong Kong that were classified as providing "ozone therapy, oxygen therapy, aerosol therapy, artificial respiration or other therapeutic respiration apparatus" will be assessed at a 20% ad valorem rate of duty.

The AIM-listed company said it was continuing to evaluate additional long-term opportunities to reduce tariff and production costs, such as manufacturing and sourcing components from alternative jurisdictions.

Chairman Paul Tuson said: "Trading in the period since completing share placing in February has been satisfactory. The prospects for Q2 FY2025 are encouraging, despite the uncertainties surrounding the recent imposition of US tariffs.

"The company continues to monitor the seemingly fluid position of US tariffs and is actively seeking to minimise adverse implications to the company and the users of its portable oxygen container products based in the USA."

Belluscura also revealed that chief financial officer Simon Neicheril has resigned from the company, with effect from 2 May. Tuson will take board responsibility for finance in the interim.

As of 1200 BST, Belluscura shares had slipped 6.60% to 0.70p.

Reporting by Iain Gilbert at Sharescast.com