UK's Surgical Innovations gains on upbeat forecast

Surgical Innovations

23/01/2023 11:28

** Shares of UK-based medical equipment manufacturer
Surgical Innovations   SUNU.L  up as much as 10.6% to 1.77p,
highest in almost two months
    ** Co says FY22 revenue to jump 20% to 11.3 million pounds 
($13.99 million), 6% ahead of pre-pandemic levels
    ** Sees FY adj. core profit of 700,000 mln stg, in line with
expectations 
    ** SUNU says strong UK sales growth, flagged in Q4,
continued into the current year, with new business wins
contributing to year-on-year growth
    ** Adds sales for H2 is 10% higher vs H1
    ** Anticipates supply chain pressures to subside and
inventory to reduce during 2023
    ** As of last close, shares were up 8.8% this year, and down
about 32% in 2022
($1 = 0.8080 pounds)
 (Reporting by Anchal Rana in Bengaluru)
 ((Anchal.Rana@thomsonreuters.com; +91 9915609050;))