Shares in Creo Medical Group PLC (AIM:CREO), a company specialising in surgical endoscopy and advanced energy licensing, are rated by Deutsche Bank as 'buy' up to 80p.
In a short update in the wake of full-year results, the German outfit flagged as its key highlight the approval and launch of the Speedboat UltraSlim, which improves compatibility with a broader range of endoscopes. This development is expected to enhance the company's market position and drive future growth.
According to DB, the numbers were all in line with expectations. Sales grew by 13% to £30.8 million, while core technology revenues, including the Speedboat device, increased significantly from £0.9 million in FY22 to £2.3 million in FY23. Combined licensing and core technology sales amounted to £4 million. Consumables sales grew by 8% to £26.8 million. Creo Medical ended the year with a net cash position of £18.5 million.
In afternoon trading the stock was up 1.3% at 36.98p.