A bullish trading update from Surgical Innovations Group PLC (LON:SUN) sent shares in the medical devices maker higher on Tuesday morning.
The AIM-quoted firm, which makes and sells various medical instruments, expects sales to exceed £5mln in the six months ending June 30, with margins and profitability “slightly ahead” of the same period last year.
Products gaining traction overseas
Surgical anticipates a “much stronger” performance in the second half, as well.
Its products are gaining traction overseas, while the recent £20bn funding announcement for the NHS bodes well for sales closer to home.
Surgical shares fell last month after it told investors that full-year pre-tax profits will only show “modest growth” this year compared to last as a result of delays in its distribution business.
The stock is up 5.8% this morning to 3p.