Surgical Innovations shares soar on higher annual revenue predictions

(Alliance News) - Surgical Innovations Group PLC on Monday said it expects to report a surge in its annual revenue figures.

Shares in Surgical Innovations jumped 14% to 0.69 pence each in London on Monday morning.

The Leeds, England-based surgical and medical instrument manufacturer expects revenue in 2023 to be approximately GBP12.0 million, an increase of 6.2% compared with GBP11.3 million in 2022.

Surgical Innovations added that group revenue continued to grow in the second half of the year, in line with the board's expectations.

Meanwhile, sales for the second half of the year were about 13% higher than the first half.

Chief Executive David Marsh says: "Despite a challenging 2023, the company finished the year with record sales and entered 2024 with an encouraging order book. The recent actions taken to improve operational efficiencies, together with continued increasing sales momentum, give the board confidence that we have put the business onto a sustainable growth trajectory for 2024 and beyond."

By Sabrina Penty, Alliance News reporter

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