Medical group achieves 17th consecutive year of growth

Chris Meredith

Advanced Medical Solutions Group has achieved better sales and profits for the year to December 31, 2018.

The Winsford-based surgical and advanced woundcare specialist company revealed today that turnover rose 6% t £102.6m, while pre-tax profits of £28.4m was a 12% improvement on the previous year.

A proposed final dividend of 0.90p per share, making a total dividend for the year of 1.32p per share, is a 20% improvement on the previous year.

Today’s statement said the group made good progress in the year, with new products strengthening the portfolio and the acquisition of Sealantis enabling us to drive towards unlocking further new growth from the $1bn internal sealants market in the short to medium term.

The product portfolio was strengthened with four launches in the fourth quarter and the group said it is well prepared to navigate the increasingly challenging regulatory environment for medical device companies.

It continues with its previously outlined long-term growth strategy and objectives and trading in the current financial year has begun in line with the board’s expectations.

It said: “The board remains optimistic about AMS’s future growth prospects.”

Chief executive, Chris Meredith said: “2018 was AMS’s 17th consecutive year of growth with strong financial and strategic progress across the group.

“Our solid revenue growth was driven by sales in our branded division which included LiquiBand topical tissue adhesives further increasing market share a further 2%, and the growth of our internal adhesives and biosurgical devices.”

He added: “We have further reaffirmed our commitment to innovation through the acquisition of Sealantis which now opens up the large internal sealants market for the group.

“We are well positioned to take advantage of market opportunities across our product portfolio, and we continue to actively review M&A opportunities.”

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