Pre-Close Update

16 Jan 2006 07:00

Gyrus Group PLC16 January 2006 16th January 2006 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 2006. The Group's reported revenues for the year to 31st December 2005 are anticipatedto be approximately £149 million representing over 70% growth on the previousyear (2004: £86.9 million). Underlying revenue growth (excluding the effect ofthe acquisition of American Cystoscope Makers Inc ("ACMI"), which completed on21st July 2005, and on a constant exchange rate basis) is expected to bemarginally over 14%. The full year results will include a 23 week contributionfrom ACMI, amounting to revenues of approximately £49 million. The acquisition of ACMI was a significant event in the Group's development, andits performance since the acquisition has been in line with the Group'sexpectations. The integration of ACMI is on track with the plans outlined at theinterim results in September. It remains Gyrus' view that the combinedbusinesses will yield significant improvements in profitability over thethree-year integration period post acquisition. Subject to any unforeseen audit adjustments in respect of IFRS, acquisition andtax accounting, it is anticipated that underlying earnings per share for theyear to 31st December 2005 will be towards the higher end of analysts'expectations which currently range between 9.4p and 13.3p on an adjusted basis. Brian Steer, Executive Chairman of Gyrus said: "For the Board and management, 2005 has been exciting both operationally andstrategically. The business has performed extremely well and we took advantageof the outstanding opportunity to acquire ACMI mid way through the year. Thesuccessful initial integration of ACMI is a testament to the strength andcapability of the combined management team, particularly at the divisionallevel. We look forward to continuing our strong performance in 2006." Enquiries: Gyrus Group PLC Brian Steer Executive Chairman 01189 219 750Simon Shaw Chief Financial Officer 01189 219 750 Financial Dynamics Ben Atwell 0207 831 3113 This information is provided by RNS The company news service from the London Stock Exchange