In Brief: Surgical Innovations; Croda; Informatics Clinical Information Systems
SURGICAL Innovations, which develops innovative medical technology for use in keyhole surgery, will today tell shareholders it is confident its investment choices and strategic decisions will result in future growth.
At its AGM today, the Leeds-based business’s chairman, Doug Liversidge, will make the following statement:
“The board is pleased that the company is now succeeding in capitalising on the infrastructure put in place over the past year. We are confident that our investment choices and strategic decisions will result in future growth. Working capital has been significantly enhanced following the investment from Chris Rea, as announced on 9 June 2014 which will support the development, together with promotion, of our unique clinical solution for 3mm surgery. We look forward to welcoming Chris to the board.”
Liversidge said the group continues to build upon last year’s strong growth both in the UK and US. He highlighted that during 2013, there was a 59% increase in the number of Yorkshire hospitals using SI branded products. He said: “The US remains a key market and the company is effectively broadening sales channels in order to realise revenue and brand recognition opportunities. This is evidenced by the 75% increase in sales to the US of SI branded products driven primarily by new dealer relationships across the US.
“Overall, we are pleased with the progress made and look to the future with confidence.”
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CHEMICALS giant Croda today said it remains confident in the long-term strategy of the group but warned that it now expects to report lower pre-tax profit than previously hoped.
In a trading update this morning, the Goole-based firm said while it still expects to achieve underlying profit progress in 2014, pre-tax profits are now expected to come in below those attained in 2013 due to the strength of the pound and weaker sales in its industrial chemicals business.
For the full year, if sterling remains at current levels, the currency translation and transaction effects the group said it is seeing would have reduced the £251.4m pre-tax profit reported in 2013 by approximately £19m (£13m currency translation plus an estimated £6m currency transaction, arising mainly on Croda’s US dollar denominated exports from Europe).
Croda said: “The board remains confident in the long term strategy of the group and its medium term targets remain unchanged.”
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A COMPANY aiming to transform the way surgical records are maintained has expanded into Sheffield.
Informatics Clinical Information Systems (CIS) has developed software for safer, quicker and more effective care of patients before, during and after operations. The software has been designed with the help of anaesthetists, nurses and other healthcare professionals.
Operating in Glasgow since 1991, Informatics CIS has created a second base in the heart of Sheffield’s digital industries cluster, at The Workstation, Paternoster Row, and has already started creating new jobs.
The company’s growth is being supported by Creative Sheffield – a partner in the South Yorkshire Sector Growth Enhancement Programme (SYSGEP). Creative Sheffield is Sheffield City Council’s economic development function, which is committed to boosting business growth in the city. It is funded by Sheffield City Council and is a partner in the South Yorkshire Sector Growth Enhancement Programme (SYSGEP) that is part-financed by the European Regional Development Fund through the Yorkshire and The Humber ERDF Programme 2007-13.
