Last checked at 15 Dec 2016 07:00
15 December 2016
Advanced Medical Solutions Group plc
("AMS" or the "Group")
Pre-Close Trading Update
Winsford, UK, 15 December: Advanced Medical Solutions Group plc (AIM: AMS.L), the surgical and advanced wound care specialist company, today announces an update on trading for the year ending 31 December 2016.
The Group continues to make good progress and the Board expects profitability to be in line with current market expectations, whilst revenue is expected to be ahead of market expectations, aided by the weakness in sterling against the US dollar and the euro.
The immediate benefit of the weakness of sterling to profit is delayed as the Group's policy is to hedge significant transactional exposure by using forward contracts and options and aims to have at least 70% of its estimated transactional exposure for the next twelve months hedged.
Chris Meredith, Chief Executive Officer of AMS, said: "The Group continues to deliver strong organic growth from its existing product portfolio. This growth is further supported by our Research and Development activities that provide product innovation allowing us to maintain our leadership position in our chosen market segments. AMS is well positioned to continue on its growth trajectory."
The Group expects to publish its Preliminary Results for the year to 31 December 2016 in March 2017.
- Ends -
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 | |
Consilium Strategic Communications | Tel: +44 (0) 20 3709 5700 |
Mary-Jane Elliott / Jonathan Birt / Matthew Neal / Hendrik Thys | |
Investec Bank PLC (NOMAD & Broker) | Tel: +44 (0) 20 7597 5970 |
Daniel Adams / Patrick Robb |
About Advanced Medical Solutions Group plc - see www.admedsol.com
AMS is a world-leading independent developer and manufacturer of innovative and technologically advanced products for the global surgical, wound care and wound closure markets, focused on quality outcomes for patients and value for payors. AMS has a wide range of products that include silver alginates, alginates, foams, tissue adhesives, sutures and haemostats, which it markets under its brands; ActivHeal®, LiquiBand® and RESORBA® as well as supplying under white label.
AMS's products, manufactured out of two sites in the UK, one in the Netherlands, two in Germany and one in the Czech Republic, are sold in more than 75 countries via a network of multinational or regional partners and distributors, as well as via AMS's own direct sales forces in the UK, Germany, the Czech Republic and Russia. Established in 1991, the Company has 530 employees. For more information please see www.admedsol.com.