07:00 Wed 07 Jul 2021
Adv Medical Solutns. - Half Year Trading Update
7 July 2021
Advanced Medical Solutions Group plc
("AMS" or the "Group")
Half Year Trading Update
Winsford,
Strong recovery and robust finances
Trading in the Period continued to recover in line with expectations despite ongoing COVID-19 challenges, as many key markets continue to rebuild towards more routine levels of elective surgery.
Revenue during the Period showed both Business Units reporting significant growth against the comparative period. The Group expects to report revenues of approximately
As volumes have increased in 2021, AMS has seen a significant improvement in operational leverage and margins for both Business Units during the Period. As a result, the Board expects adjusted profit before tax for the Period to be in the region of
The Group has sustained its robust financial position throughout the disruption caused by the pandemic. It continued to tightly manage working capital during the Period, maintained the payment of its final 2020 dividend and continued to generate operational cash flows, with net cash of approximately
Regulatory and clinical progress
We are pleased to report that the 510(k) filing for LiquiBand®XL has been submitted to the FDA and the product remains on schedule for approval by the end of the year.
The US clinical trial for LiquiBandFix8® continues to progress well with more than 80% of required patient procedures now complete and Premarket Approval (PMA) filing on track for 2022 after the 12 month patient follow up.
Patient enrolment for the Seal-G® and Seal-G® MIST clinical study is progressing at three sites in
Outlook and guidance
The Group expects to continue to trade in line with the Board's expectations in the second half of 2021 as elective surgery and accident and emergency volumes continue to trend back towards historical levels.
- End -
For further information, please contact:
Advanced Medical Solutions Group plc |
Tel: +44 (0) 1606 545508 |
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Consilium Strategic Communications |
Tel: +44 (0) 20 3709 5700 |
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Investec Bank PLC (NOMAD & Broker) |
Tel: +44 (0) 20 7597 5970 |
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About Advanced Medical Solutions Group plc
AMS is a world-leading independent developer and manufacturer of innovative and technologically advanced products for the global surgical and woundcare markets, focused on quality outcomes for patients and value for payers. AMS has a wide range of surgical products including tissue adhesives, sutures, haemostats, internal fixation devices and internal sealants, which it markets under its brands LiquiBand®, RESORBA®, LiquiBandFix8® and Seal-G®. AMS also supplies wound care dressings such as silver alginates, alginates and foams through its ActivHeal® brand as well as under white label. In 2019, the Group made two acquisitions: Sealantis, an Israeli medical device company with a patent-protected sealant technology platform; and Biomatlante, an established developer and manufacturer of innovative surgical biomaterial technologies based in
AMS's products, manufactured in the
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