Creo Medical has "positive outlook", despite widened 2024 loss

(Alliance News) - Creo Medical Group PLC on Monday reported a widened pretax loss and a decrease in revenue in 2024.

The Chepstow, Wales-based medical device company had a pretax loss of GBP29.0 million in 2024, widening from GBP26.4 million the prior year.

Creo's administrative expenses rose 2.4% to GBP30.3 million, up from GBP29.6 million.

The firm's revenue was GBP30.7 million in 2024, down 0.3% from GBP30.8 million. This followed Creo selling a 51% stake of Creo Medical Europe in September 2024.

Core Technology revenue from continuing operations was GBP4.0 million, up 74% from GBP2.3 million.

Looking forward, Creo Medical said it has a "positive outlook" for 2025 and is targeting between 40% and 60% revenue growth in its Core Technology division.

Chief Executive Officer Craig Gulliford said: "The consolidatory steps taken in 2024 and our renewed focus will only help us as we continue to drive towards our goals. We will continue to look for efficiencies and cost reductions where possible to maximise the use of the funds we have. We look forward to another year of strong growth in our Core Technology from both existing and new users, helping drive us towards our goals of self-sustaining cashflows and improving lives."

Creo Medical shares were down 0.9% to 10.04 pence in London on Monday morning.

By Olivia Mason-Myhill, Alliance News reporter

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