15th Jul 2024 10:21
(Alliance News) - Advanced Medical Solutions Group PLC on Monday celebrated momentum as it expects profit to grow and full-year results to be on track.
The Cheshire, England-based surgical dressings company reported that revenue is expected to be about GBP68 million in the six months ended June 30, up 7.8% from GBP63.1 million a year before. This is up about 10% higher on a constant currency basis.
Adjusted pretax profit is expected to be in the range of GBP14.4 million to GBP14.8 million, rising by at least 4.3% from GBP13.8 million a year prior.
Looking ahead, Advanced Medical Solutions said full-year results look to be on track.
Chief Executive Officer Chris Meredith said: "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."
Earlier this month, Advanced Medical completed the acquisition of Peter Surgical, a provider of speciality surgical products.
Advanced Medical expects to release its half-year results in September.
Advanced Medical shares rose 0.7% to 228.51 pence each on Monday morning in London.
By Tom Budszus, Alliance News slot editor
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