4th Mar 2015 09:09
LONDON (Alliance News) - Advanced Medical Solutions Group PLC Wednesday expressed confidence for future growth and upped its total dividend for 2014, as it saw a rise in pretax profit from 2013.
Advanced Medical Solutions proposed a final dividend of 0.48 pence, taking its total dividend to 0.70 pence, up from 0.60 pence a year before.
The company posted a pretax profit of GBP15.2 million, up from GBP13.1 million a year before, as revenue rose 6% to GBP63.0 million from GBP59.5 million, although this was partly offset by higher cost of sales. At constant currency, revenue growth was 9%.
In its Branded Direct Business unit, revenue rose 3%, boosted by 34% growth in its LiquiBand skin adhesive product. LiquiBand sales also helped drive 17% revenue growth in its Branded Distribution business.
In its Original Equipment Manufacturer business revenue rose 7%, helped by growth its its silver alginate range of dressings, offsetting flat sales of its foam based dressings.
Bulk Materials revenue was down 7%, as its Rollstock foam sales to some newer and smaller partners "were disappointing", Advanced Medical Solutions said.
"With the continuing growth in our larger business units, the strong performance of our products and our ambitions for the group, we are confident that AMS is well placed to drive growth as well as continued improvements in operational efficiencies and we remain excited by the prospects for our future," said Chief Executive Officer Chris Meredith in a statement.
Shares in Advanced Medical Solutions are trading up 5.5% at 145.00 pence Wednesday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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