11th Sep 2013 10:07
LONDON (Alliance News) - Advanced Medical Solutions Group PLC Wednesday reported higher profits and revenues for the first half of the year as a recent restructuring continued to lift margins, and it said it is trading in line with market expectations for the full year.
The company, which makes wound care products like dressings and sutures, reported pretax profit of GBP6 million in the six months to end-June, from GBP4.5 million a year earlier, which outperformed an 11% increase in revenues to GBP27.4 million, from GBP24.8 million.
It increased its interim dividend to 0.19 pence, from 0.17 pence as a result, while net debt fell to GBP2.6 million, from GBP5.5 million.
"Our strong cash flow generation should also enable us to have net funds by the year end," Chairman Don Evans said in a statement.
Advanced Medical makes products for other companies, but sales of its own brands are driving much of its growth.
The company's shares were down 1.7% at 89.5 pence Wednesday morning.
By Steve McGrath; [email protected]; @SteveMcGrath1
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