Surgical Innovations narrows losses as sales rise 63%

Wed, 15th Sep 2021

Minimally invasive surgery technology group Surgical Innovations narrowed first-half losses on rising sales. Pre-tax losses for the six months through June amounted to £0.22 million, compared to year-on-year losses of £2.58 million. Revenue rose 63% to £4.22 million. Adjusted earnings before interest, tax, depreciation and amortisation amounted to £0.21 million. Net cash at 30 June was £2.66 million. Surgical Innovations said revenues were recovering towards pre-pandemic levels in most markets, with is sales in the first two months of second half up 45% year-on-year and slightly up on 2019. It added that it continued to trade profitably at the level of adjusted EBITDA, supported by a reduced cost base. Story provided by StockMarketWire.com

FTSE 100 Latest
Value7,078.35
Change-5.02