REG - Adv Medical Solutns. - Half Year Trading update

Advanced Medical SolutionsAnnouncement

15/07/2024 07:00

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RNS Number : 2972W  Advanced Medical Solutions Grp PLC  15 July 2024

15 July 2024

 

Advanced Medical Solutions Group plc

("AMS" or the "Group")

 

Half Year Trading update
 

~ US LiquiBand(®) driving strong Surgical revenue growth ~

 

Winsford, UK: Advanced Medical Solutions Group plc (AIM: AMS), a world-leading
specialist in tissue-healing technologies, today announces a trading update
for the six months ended 30 June 2024 ("the Period"). The Group expects to
announce its interim results in September 2024.

First Half 2024

Group revenue for the Period is expected to be about 10% higher than last year
on a constant currency basis (+8% at reported exchange rates) at approximately
£68 million (H1 2023: £63.1 million). US LiquiBand(®) sales showed very
strong year on year growth as the new US marketing strategy for LiquiBand(®)
initiated in Q3 2023 takes effect, with partners showing increased commitment
to the category & products and LiquiBand(®) XL now also being promoted
through all three hospital distribution channels.

 

Adjusted profit before tax is expected to be in the range of £14.4m to
£14.8m (H1 2023: £13.8 million).

 

Full Year 2024 and Outlook

With momentum building across all the key surgical product areas, despite
continued Woundcare headwinds, the Board remains confident that the Group
(excluding Peters Surgical) will generate underlying double-digit top line
growth in the full year 2024, with consolidated revenues and adjusted profit
before tax expected to be in line with management forecasts.

 

The Board is excited about the combination with Peters Surgical that completed
on 1(st) July and the benefits it will bring across the business as
cross-selling opportunities and operational synergies are expected to
significantly enhance AMS' strong underlying performance over the next three
years. Further details on the potential synergies will be announced in due
course.

 

Chris Meredith, Chief Executive Officer of AMS, said: "We are very pleased to
be able to report such a strong H1 performance and to confirm that FY 2024
remains on track. We look forward to building on this strong start to the
year. As we consolidate Peters Surgical in the second half, this nearly
doubles our surgical sales, significantly expands our distribution
capabilities and establishes the Group as a global powerhouse in
tissue-healing, solidifying our strategy for significant and sustainable
growth in the long-term."

 

For further information, please contact:

 

 Advanced Medical Solutions Group plc            Tel: +44 (0) 1606 545508
 Chris Meredith, Chief Executive Officer

 Eddie Johnson, Chief Financial Officer

 Michael King, Investor Relations

 ICR Consilium                                   Tel: +44 (0) 20 3709 5700
 Mary-Jane Elliott / Lucy Featherstone

 Investec Bank PLC (NOMAD & Broker)              Tel: +44 (0) 20 7597 5970
 Gary Clarence / David Anderson

 HSBC Bank plc (Broker)                          Tel: 44 (0) 20 7991 8888
 Sam McLennan / Joe Weaving / Stephanie Cornish

 

About Advanced Medical Solutions Group plc

AMS is a world-leading independent developer and manufacturer of innovative
tissue-healing technology, focused on quality outcomes for patients and value
for payers. AMS has a wide range of surgical products including tissue
adhesives, sutures, haemostats, internal fixation devices and internal
sealants, which it markets under its brands LiquiBand(®), RESORBA(®),
LiquiBandFix8(®), LIQUIFIX™, Peters Surgical, Ifabond, Vitalitec and
Seal-G(®). AMS also supplies wound care dressings such as silver alginates,
alginates and foams through its ActivHeal(®) brand as well as under white
label. Since 2019, the Group has made seven acquisitions: Sealantis, an
Israeli developer of innovative internal sealants, Biomatlante, a French
developer and manufacturer of surgical biomaterials, Raleigh, a leading UK
coater and converter of woundcare and bio-diagnostics materials, AFS Medical,
an Austrian specialist surgical business, Connexicon, an Irish tissue
adhesives specialist, Syntacoll a German specialist in collagen-based
absorbable surgical implants and Peters Surgical a global provider of
specialty surgical sutures, mechanical haemostasis and internal cyanoacrylate
devices.

 

AMS's products, manufactured in the UK, Germany, France, the Netherlands,
Thailand, India, the Czech Republic and Israel, are sold globally via a
network of multinational or regional partners and distributors, as well as via
AMS's own direct sales forces in the UK, Germany, Austria, France, Poland,
Benelux, India, the Czech Republic and Russia. The Group has R&D
innovation hubs in the UK, Ireland, Germany, France and Israel. Established in
1991, the Group has more than 1,500 employees. For more information, please
see www.admedsol.com (http://www.admedsol.com/) .

 

 

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