AMS flags-up concern over strong pound

WOUNDCARE products developer, manufacturer and supplier Advanced Medical Solutions has sounded a note of caution over the impact of foreign exchange movements.

The Winsford-based business which sells internationally said that while it is confident over the future, further strengthening of the pound against the dollar and euro would harm revenues.

In a trading update AMS said it currently expects both revenue and profitability for the full year 2014 to be in line with current market expectations.

However it added: “Continued strengthening of sterling against the US Dollar and the Euro would, however, have an impact on revenues.”

It is understood that a 10% movement in the pound to the dollar or pound to the euro exchange rate would hit sterling revenues by approximately 2% and 4% respectively.

In the update AMS said it had seen sales growth through the business during the first half, with  its LiquiBand cyanoacrylate product into the US showing particularly good progress.