Shares in Advanced Medical Solutions Group PLC (AIM: AMS) were lifted by the medical technology company’s announcement it has had a strong second half of the year and that it expects full year earnings to be in line with market expectations.
The stock was trading up 12 percent on the news by late morning.
In a pre-close trading update for the year ending December 31 2009, it said sales of its LiquiBand topical skin adhesive products have started in the US market. Whilst FDA approval is still under review for LiquiBand products with specific applications in the operating room, current budgets are covered by the products already approved.
Integration of the Corpura business acquired in October 2009 is proceeding well and is confirming AMS’s belief that polyurethane foam will be one of the key drivers of future growth for the company.
The new facility at Winsford in the UK is also proceeding well. Phase I fit-out covering the warehouse, laboratories, offices and initial manufacturing clean rooms is complete. Equipment is being installed and regulatory approval has been received, which now allows shiping product from the new site.
Phase II fit-out covering the remainder of the manufacturing clean rooms is well underway, and the entire project remains within budget and on track for completion by the end of 2010 as planned.