Surgical Innovations sees 'significantly stronger' second half

Surgery technology designer and manufacturer Surgical Innovations Group updated the market for the year ended 31 December on Monday, reporting that trading was “significantly stronger” in the second half, resulting in group revenue for the full-year of around £11m.

The AIM-traded firm said that represented growth of approximately 25% over 2017, with underlying revenue growth - adjusted for the effect of the acquisition of Elemental Healthcare in August 2017 - of around 8%.

Gross margin was within the board’s target range, and the resulting increase in profit before tax was 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,” the Surgical Innovations board said in its statement.

Surgical Innovations said its audited results for the year ended 31 December would be released in mid-March.