Advanced Medical Solutions looking healthy
WOUNDCARE group Advanced Medical Solutions today announced an 80% leap in half-year profits and said further contracts with the NHS plus a move into the US market will drive further growth.
The Winsford-based group, which makes dressings containing silver and seaweed to combat infection, saw pre-tax profits increase to £1.2m from £700,000 in the six months to June 30 on revenue up 24% at £9.8m.
The AIM-listed group said its silver alignate woundcare products which it produces for major groups, continued to see increased global sales while its ActivHeal range of dressings is now supplied across National Health Service hospitals and clinics.
Chairman Dr Geoffrey Vernon said: “I am delighted with the continued progress we have made at AMS, further strengthening our technology portfolio and market presence, supported by our strong financial position.
“With more than two months of the second half of our financial year now completed, I am pleased to report that the group is trading strongly and the outlook for the business remains very positive.”
He said that AMS is due to enter the US market with its LiquiBand tissue adhesive woundcare product next year and is looking to supply it, as it does in Europe, to hospital emergency rooms.
AMS has £5.4m in the bank following the acquisition of a 49.4% stake in Corpura, a Dutch business that makes foam for wound dressings, from Belgian group Recticel in May.
