GYG.L Regulatory News (GYG)

14 Jan 2005 07:00

Gyrus Group PLC14 January 2005 14th January 2005 Gyrus Group PLC Pre-Close Period Statement Reading, UK - Gyrus Group (GYG.L) a leading supplier of medical devices whichreduce trauma and complications in surgery, today provides a pre-close periodupdate ahead of its preliminary results announcement on 16th March 2005. In the year to 31st December 2004 the Group continued to achieve strong salesgrowth despite the ongoing weakness of the US dollar (currently, over 80% ofgroup sales are denominated in US dollars). On a constant currency basis theGroup achieved revenue growth of approximately 22%. On translation, the Group'sreported revenues for the year are expected to be in line with marketexpectations at approximately £87 million representing 11% growth on theprevious year (2003: £78.1 million). Trading highlights in the period included: • Strong growth in Surgical Division revenues worldwide based upon the Group's proprietary products for gynaecology and urology; and • Strong growth in Partnered Technologies revenues across the board As was the case at the half year, the success of the Surgical and PartneredTechnologies Divisions has continued to offset lower US growth in the ENTDivision. Revenues in the ENT Division strengthened in the final quarter and itis well set for a number of significant new product launches in 2005. The early benefits of the Group's three-year operational improvement plan havepartially offset the currency impact on costs and profit before tax andamortisation of goodwill ("PBTA") is expected to be slightly ahead of theconsensus market forecast. Brian Steer, Executive Chairman of Gyrus said: "The Group's businesses have performed very well in the face of another year ofsignificant depreciation in our main operating currency. With this momentum andthe new products set for launch this year, we look forward to continuing ourstrong performance in 2005." Enquiries: Gyrus Group PLC Brian Steer Executive Chairman 01189 219 750Simon Shaw Chief Financial Officer 01189 219 750 Financial Dynamics Ben Atwell 0207 831 3113Lucy Briggs 0207 831 3113 This information is provided by RNS The company news service from the London Stock Exchange