REG - Surgical Innovations - Year-end Trading Update

Surgical InnovationsAnnouncement

14/01/2019 07:00

RNS Number : 9299M
Surgical Innovations Group PLC
14 January 2019
 


 
Surgical Innovations Group plc
("Surgical Innovations" or the "Group")
 
Year-end Trading Update
 
Surgical Innovations Group plc (AIM: SUN), the designer and manufacturer of innovative technology for minimally invasive surgery, provides an update on trading for the year ended 31 December 2018.
 
Trading was significantly stronger in the second half of the year, resulting in Group revenue for the full year of approximately £11.0m. This represents growth of approximately 25% over 2017, with underlying revenue growth (adjusted for the effect of the acquisition of Elemental Healthcare Limited in August 2017) of approximately 8%.  Gross margin was within target range and the resulting increase in profit before tax is anticipated to be in line with Board expectations and market consensus.
 
The Group continued to be cash generative, with closing net cash balances of approximately £0.36m, compared with net debt at the start of the year of £0.73m.
 
Audited results for the year ended 31 December 2018 will be released in mid-March 2019.
 
For further information contact:
 



Surgical Innovations Group Plc


www.sigroupplc.com




Nigel Rogers, Executive Chairman


Tel: +44 (0)113 230 7597




Melanie Ross, COO and CFO


















Walbrook PR (Financial PR & Investor Relations)


Tel: +44 (0)20 7933 8780 or si@walbrookpr.com




Paul McManus


Mob: +44 (0)7980 541 893




Lianne Cawthorne


Mob: +44 (0)7584 391 303














N+1 Singer (Nominated Adviser and Broker)


+44 (0)20 7496 3000




Richard Lindley








Rachel Hayes







 
 
 




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