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Share Price: 0.50

Bid: 0.40

Ask: 0.60

Change: 0.00 (0.00%)

Spread: 0.20 (50.00%)

Open: 0.50

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IN BRIEF: Surgical Innovations shares up as annual loss narrows

Wed, 29th Mar 2023 11:47

Surgical Innovations Group PLC - Leeds, England-based surgical & medical instrument manufacturer - Posts revenue of GBP11.3 million for 2022, up 24% from GBP9.1 million in 2021. Pretax loss narrows to GBP57,000 from GBP585,000. Swings to an operating profit of GBP41,000 from a loss of GBP455,000 a year earlier. Adjusted earnings before interest, tax, depreciation and amortisation is GBP700,000, up from GBP500,000 in 2021. Surgical notes strong sales in UK, Japan and key European markets. Looking ahead, says revenue in the current year to date for SI brand and Distribution sales are 9.2% ahead of the corresponding period last year. Expects to continue to trade profitably at the level of adjusted Ebitda, supported by the continual investment in operations during 2023.

Chair Nigel Rogers says: "Whilst the backlog of patients requiring treatment in the UK continues to increase, standing at 7.2 million in December 2022, sales remain strong."

Current stock price: 1.99 pence each, up 4.7% on Wednesday around midday in London

12-month change: down 9.6%

By Xindi Wei, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

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10 Jun 2013 08:45

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8 May 2013 14:08

Surgical Innovations appoints new President of US Sales and Operations

Surgical Innovations Group, the AIM-listed manufacturer of creative solutions for minimally invasive surgery, has appointed Rick Barnett as President of US Sales and Operations with immediate effect. The company reported that Barnett had joined the company from Integrated Medical Systems, where he

19 Feb 2013 08:34

Surgical Innovations Group expects flat annual revenues

Surgical Innovations Group's shares tumbled Tuesday after the company said 2012 revenues were hit by manufacturing capacity constraints and delays in regulatory approvals in the final quarter. Shares fell almost 15% on the morning of the announcement as the group said it expected total revenue las

29 Oct 2012 12:41

Small caps round-up: Surgical Innovations, Verdes, Ceramic Fuel Cells

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31 May 2012 12:40

Small caps round-up: Transense Tech, Surgical Innovations, Treveria...

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24 Apr 2012 08:34

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15 Mar 2012 12:06

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1 Feb 2012 13:28

Surgical Innovations gets FDA thumbs-up

Surgical Innovations Group, a designer and manufacturer of creative solutions for minimally invasive surgery, has received clearance from the US Food and Drug Administration (FDA) for its Logic range of reusable instruments, permitting the use of the range in the US market. In addition, the comp

14 Sep 2011 12:32

Surgical Innovations results are less than healthy

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7 Aug 2011 14:51

Sunday tips round-up: Surgical Innovations, National Grid, Utilities

Investors, "have a genuine appetite for risk and are looking for low-priced shares that may not pay out dividends but are expected to deliver good growth over the next few years," the Midas column at the Financial Mail on Sunday writes, and Surgical Innovations neatly fits the bill. The Leeds based

28 Jul 2010 08:03

Surgical Innovations Gets Approval To Sell Logi Flex in US

LONDON (Dow Jones)--Medical device company Surgical Innovations Group PLC (SUN.LN) Wednesday said it received approval to sell a device for fixing gastric bands in the U.S. The Food and Drug Administration granted marketing authorization to Logi Flex, a device that allows surgeons to fix a gastr

16 Jul 2010 13:22

Surgical Innovations: Court OKs Share Premium Account Cancellation

LONDON (Dow Jones)--Surgical Innovations Group PLC (SUN.LN), a designer and manufacturer of innovative surgical devices, said Friday that on July 15, the Court approved its application for the cancellation of its share premium account through the offsetting of accumulated losses. -Shares at 1221

25 May 2010 08:39

Small caps round-up: Surgical Innovations, Hydro Int'l, European Inv Tst , ...

Surgical Innovations, the designer and manufacturer of surgical devices, is trading in line with expectations and said it is extremely confident for the year ahead. "We are extremely confident for the year ahead and look forward to providing a further update at the interim results in September," sa

18 Jan 2010 10:46

Small cap round-up: Aurelian, Camco, African Copper...

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13 Nov 2009 15:18

Option gain for Xstrata's Davis

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