15 July 2024
Advanced Medical Solutions Group
plc
("AMS" or
the "Group")
Half Year Trading
update
~ US LiquiBand®
driving strong Surgical revenue growth ~
Winsford, UK: Advanced Medical Solutions Group plc (AIM: AMS), a
world-leading specialist in tissue-healing technologies,
today announces a trading update for the six
months ended 30 June 2024 ("the Period"). The Group expects to
announce its interim results in September 2024.
First Half
2024
Group revenue for the Period is
expected to be about 10% higher than last year on a constant
currency basis (+8% at reported exchange rates) at approximately
£68 million (H1 2023: £63.1 million). US
LiquiBand® sales showed very strong year on year growth
as the new US marketing strategy for LiquiBand® initiated in Q3 2023 takes effect, with partners showing
increased commitment to the category & products and
LiquiBand® XL now also being
promoted through all three hospital distribution
channels.
Adjusted profit before tax is
expected to be in the range of £14.4m to £14.8m (H1 2023: £13.8
million).
Full Year 2024 and
Outlook
With momentum building across all
the key surgical product areas, despite continued Woundcare
headwinds, the Board remains confident that the Group (excluding
Peters Surgical) will generate underlying double-digit top line
growth in the full year 2024, with consolidated revenues and
adjusted profit before tax expected to be in line with management
forecasts.
The Board is excited about the
combination with Peters Surgical that completed on 1st
July and the benefits it will bring across the business as
cross-selling opportunities and operational synergies are expected
to significantly enhance AMS' strong underlying performance over
the next three years. Further details on the potential synergies
will be announced in due course.
Chris Meredith, Chief Executive Officer of AMS,
said: "We are very pleased to be
able to report such a strong H1 performance and to confirm that FY
2024 remains on track. We look forward to building on this strong
start to the year. As we consolidate Peters Surgical in the second
half, this nearly doubles our surgical sales, significantly expands
our distribution capabilities and establishes the Group as a global
powerhouse in tissue-healing, solidifying our strategy for
significant and sustainable growth in the long-term."
For further information,
please contact:
Advanced Medical Solutions Group plc
|
Tel: +44
(0) 1606 545508
|
Chris Meredith, Chief Executive
Officer
Eddie Johnson, Chief Financial
Officer
Michael King, Investor
Relations
|
|
|
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ICR
Consilium
|
Tel: +44
(0) 20 3709 5700
|
Mary-Jane Elliott / Lucy
Featherstone
|
|
|
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Investec Bank PLC (NOMAD & Broker)
|
Tel: +44
(0) 20 7597 5970
|
Gary Clarence / David
Anderson
|
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HSBC Bank plc (Broker)
|
Tel: 44
(0) 20 7991 8888
|
Sam McLennan / Joe Weaving /
Stephanie Cornish
|
|
About Advanced Medical Solutions Group plc
AMS is a world-leading independent
developer and manufacturer of innovative tissue-healing technology,
focused on quality outcomes for patients and value for payers. AMS
has a wide range of surgical products including tissue adhesives,
sutures, haemostats, internal fixation devices and internal
sealants, which it markets under its brands LiquiBand®,
RESORBA®, LiquiBandFix8®, LIQUIFIX™, Peters
Surgical, Ifabond, Vitalitec and Seal-G®. AMS also
supplies wound care dressings such as silver alginates, alginates
and foams through its ActivHeal® brand as well as
under white label. Since 2019, the Group has made seven
acquisitions: Sealantis, an Israeli developer of innovative
internal sealants, Biomatlante, a French developer and manufacturer
of surgical biomaterials, Raleigh, a leading UK coater and
converter of woundcare and bio-diagnostics materials, AFS Medical,
an Austrian specialist surgical business, Connexicon, an Irish
tissue adhesives specialist, Syntacoll a German specialist in
collagen-based absorbable surgical implants and Peters Surgical a
global provider of specialty surgical sutures, mechanical
haemostasis and internal cyanoacrylate devices.
AMS's products, manufactured in the
UK, Germany, France, the Netherlands, Thailand, India, the Czech
Republic and Israel, are sold globally via a network of
multinational or regional partners and distributors, as well as via
AMS's own direct sales forces in the UK, Germany, Austria, France,
Poland, Benelux, India, the Czech Republic and Russia. The Group
has R&D innovation hubs in the UK, Ireland, Germany, France and
Israel. Established in 1991, the Group has more than 1,500
employees. For more information, please
see www.admedsol.com.