Healthy growth for woundcare specialist
ADVANCED Medical Solutions, the Cheshire-based international manufacturer and supplier of woundcare products, is reporting another period of strong growth.
Its interim results for the first six months to June 30 show revenue has grown 20% to £39.2m (H1 2015: £32.5m) and adjusted pre-tax profits rose 16% to £9.5m (H1 2015: £8.2m).
The company meanwhile also announced a 20% rise in its interim dividend to 0.3p.
AMS reported continued improvement and strong performance in the US with the LiquiBand tissue adhesive range.
Other highlights included the expanded use of Hernia Mesh Fixation device, LiquiBand Fix8, with £0.8m of sales (2015 H1: £0.4m).
Sales of RESORBA branded products into Germany and Czech Republic were up 9% to £6.4m (2015 H1: £5.9m) and by 4% at constant currency. ActivHeal were sales flat, although market share continues to grow.
The company said its R&D pipeline was delivering results with antimicrobial foam dressings and atraumatic foam dressings, now both launched into Europe.
Chief executive Chris Meredith said: “The first half of 2016 has seen another period of strong financial growth by the group. As was disclosed at the time of our trading update in July, revenues (primarily as a result of currency effects) were expected to be ahead and profitability to be in line with current market expectations for the full year. This continues to be the case.
“The business is in robust health and the Board remains optimistic about our longer-term organic growth prospects and our innovative R&D pipeline.
“The board is regularly evaluating acquisition opportunities to complement our organic growth and to optimise the value of our strong financial position.”
