AMS chief hails ‘solid year’ as profits leap
CHESHIRE-based woundcare specialist Advanced Medical Solutions has reported strong 2012 results which saw underlying profits leap 85% to £12.1m.
The Winsford-based group, which sells and makes its products internationally, said its had been boosted by the acquisition of German company Resorba in late 2011.
Revenues rose up 53% to £52.6m, and excluding Resorba, underlying like-for-like revenue on a constant currency basis were up 3% to £35.1m.
Chief executive Chris Meredith told TheBusinessDesk.com that the business, which employs 150 at its Cheshire base where advanced woundcae products are made, had made “solid progress” in 2012.
“We’ve had a nother good year, assisted by the acquisition of the German business. Our ActivHeal product, which we supply to the NHS has done really well.
“Sales are up 29% – it is a high quality product, better priced than our larger competitors, so the progress there is really encouraging.”
He said the picture in the US was “mixed” and said there had been some issues with a distribution partner suppling products into the general hospital sector,
“We have seen really good progress with our distributor in the ‘alternate site’ sector, which is basically every medical facility which is not a general hospital. This gives us the belief that our products will sell in the right hands, so later this year we’ll be using different distributors in the hospital
sector.”
AMS chairman Dr Don Evans announced he would be stepping down later this year.
He said: “In my 16 years with AMS I have seen the complete transformation of the group, and I know that I will be leaving a business in excellent shape for future growth.
“I would like to thank the Board, my colleagues and all our employees for helping to build this great Company and to wish them all continued success.”
