15th Jan 2020 11:00
(Alliance News) - Advanced Medical Solutions Group PLC on Wednesday said it expects its full-year results to be broadly in line with forecasts, despite facing "significant challenges" in 2019.
For 2019, the surgical & advanced wound care specialist said its profit will edge above consensus, though sales, hurt by a rise in sterling during the fourth quarter, will be slightly below consensus.
Chief Executive Chris Meredith said: "'I am pleased to report that despite the significant challenges in 2019, the group is expected to report financials in line with revised consensus forecasts."
A third-party issue, which caused deliveries of its Liquiband wound care product to be delayed, has also been resolved, Advanced Medical said.
The company in November said it took a GBP2 million hit from the delivery delays.
The Surgical business unit was hurt by the issues with Liquiband.
In the Woundcare segment, the company reported growth in its ActivHeal wound dressings product, despite subdued market conditions.
Shares in the company were 6.4% higher at 294.80 pence each in London on Wednesday.
By Eric Cunha; [email protected]
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