Last checked at 3 Jul 2014 07:00
3 July 2014
Advanced Medical Solutions Group plc
("AMS" or the "Group")
Pre-Close Trading Update
Winsford, UK: Advanced Medical Solutions Group plc (AIM: AMS.L), the global medical technology company, today announces an update on trading prior to its close period for the half year ended 30 June 2014.
The Board confirms that it currently expects both revenue and profitability for the full year 2014 to be in line with current market expectations.
Sales growth continues throughout the business with sales of LiquiBand® into the US showing particularly good progress. Bulk Materials is the only Business Unit where progress is less than expected.
Our hernia mesh fixation device LiquiBand® Fix8™ was approved for use in the European market on 29 May 2014 and will be launched for sale through the Group's sales teams and distributors in the EU in the second half of 2014.
Product launches for both anti-microbial dressings and atraumatic foam dressings are also on schedule for the second half of 2014.
Continued strengthening of Sterling against the US Dollar and the Euro would, however, have an impact on revenues.
The Board is confident in the continued good prospects of the Group.
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Note: For guidance, a ten per cent movement in the £:US$ or £:Euro exchange rate will impact Sterling revenues by approximately two per cent and four per cent respectively.
For further information, please visit www.admedsol.com or contact:
Advanced Medical Solutions Group plc | Tel: +44 (0) 1606 545508 |
Chris Meredith, Chief Executive Officer Mary Tavener, Group Finance Director | |
Tavistock Communications | Tel: +44 (0) 20 7920 3150 |
John West / Chris Munden / Andrew Dunn | |
Investec Bank plc (NOMAD & Broker) | Tel: +44 (0) 20 7597 5970 |
Gary Clarence / Daniel Adams / Patrick Robb |
About Advanced Medical Solutions Group plc - see www.admedsol.com
Founded in 1991, AMS is a leader in the development and manufacture of innovative and technologically advanced products for the US$15 billion global wound care market. Through a mix of organic development and a number of acquisitions, AMS now has a wide range of products based on technologies that include alginates, silver alginates, foams, collagens, cyanoacrylate adhesives and sutures.
AMS manufactures wound care products for an extensive list of Original Equipment Manufacturer ("OEM") customers around the world, but the majority of the Group's revenues now come from its own brands - ActivHeal® wound care products in the UK to the NHS, LiquiBand® cyanoacrylate products primarily in the UK, Europe and the USA, and RESORBA® sutures and collagen wound care products primarily in Europe. AMS develops innovative products from its R&D pipeline which it commercialises globally, either directly or through partnerships with its OEM customers.
AMS's products are sold globally via a network of regional or multinational partners and distributors, as well as via AMS's own direct sales forces in the UK, Germany, the Czech Republic and Russia.
With 450 employees operating under four distinct business units (Branded Direct, Branded Distributed, OEM and Bulk Materials) that match its multiple products and routes-to-market, AMS's products are manufactured from two sites in the UK, one in the Netherlands, two in Germany and one in the Czech Republic.