7th May 2020 15:20
(Alliance News) - Creo Medical Group PLC on Thursday reported maiden revenue in 2019 and expressed confidence going forward.
The medical device company reported revenue of GBP13,473 for 2019 versus none reported for the 18 months to the end of 2018, while its pretax loss widened to GBP18.6 million from GBP17.6 million.
Creo said the 12 months to the end of 2019 was a period of considerable progress in the path to commercial launch for its suite of devices to complement the CROMA advanced energy platform and Speedboat device for use in gastrointestinal therapeutic endoscopy.
During 2019, Creo said it received first commercial orders for Speedboat from the US. The company also continued shipments of its CROMA advanced energy platform and Speedboat devices as part of framework agreements with distribution partners.
"Despite the challenges and uncertainties that Covid-19 has created for businesses world-wide, we remain confident of our medium and long-term prospects having developed an unrivalled suite of game-changing devices that will change the way endoscopists and surgical users operate and bring positive benefits to patients globally," said Chief Executive Craig Gulliford.
Creo shares were trading 1.6% lower in London on Thursday at 135.80 pence each.
By Evelina Grecenko; [email protected]
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