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
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Surgical Innovations (SUN)