AMS anticipates future growth despite profits dip
CHESHIRE woundcare firm Advanced Medical Solutions (AMS) saw its profits fall on the back of ‘exceptional’ expenses last year but it now anticipates future growth.
The Winsford-based company, which has recently rebuffed a take-over bid from a rival, saw its operating profits after exceptional items fall to £2.4m from £2.7m in 2008.
Over the past year, the company has spent £1.6m in its new purpose-built premises in Winsford as well as an aborted acquisition.
Its preliminary results for the year to the end of 2009 also show that its turnover increased by 19% to
£24.1m – up from £20.3m last time.
It announced its intention to pay its maiden dividend for the current financial year.
One of AMS’s major products named ActivHeal has also received an endorsement from University College Hospital London.
The company also gained permission in December to market some of its products in America and it expects that this will bring financial benefits in 2010.
Dr Geoffrey Vernon, chairman of Advanced Medical Solutions, said: “I am pleased to report that further major steps have been taken in exploiting the group’s significant growth opportunities with key strategic new markets entered, new partners added, innovative new products launched and further regulatory approvals received.
“The Board remains very optimistic about the prospects for the business in 2010 and beyond and, accordingly, intends to introduce a maiden dividend for the full year 2010.”
Last month, AMS announced that a firm called Consort Medical had expressed its interest in buying it. The offer was subsequently “firmly” rejected by AMS.
