4th Jun 2021 14:41
(Alliance News) - Creo Medical Group PLC on Friday said its loss narrowed in 2020 despite substantial improvement in revenue.
The AIM-listed medical device company said its pretax loss widened in 2020 to GBP23.5 million from GBP18.6 million the year before, as administrative expenses jumped to GBP27.1 million from GBP19.0 million.
In addition, the company recorded an impairment loss on trade and other receivables of GBP446,897, versus no such costs in 2019.
More positively, revenue jumped to GBP9.4 million from just GBP13,473 in 2019.
"Perhaps the most satisfying achievement for the whole team has been the first clinical use of MicroBlate Fine to successfully treat a number of patients with pancreatic tumours in early December 2020, with no adverse events reported to date," noted Chief Executive Craig Gulliford.
"Looking forward we see significant further opportunities in other surgical disciplines/specialities and then beyond into diagnostics," added Gulliford.
Creo Medical shares were trading flat in London on Friday afternoon at 210.00 pence each.
By Evelina Grecenko; [email protected]
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