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Surgical Innovations says trading significantly stronger in second half, expects full-year profit to be in-line

The AIM-listed designer of innovative technology for minimally invasive surgery said it expects full-year group revenue to be around £11.0mln, growth of approximately 25% over 2017
Robot nurse
It added that underlying revenue growth - adjusted for the effect of the acquisition of Elemental Healthcare Limited in August 2017 – is expected to be approximately 8%

Surgical Innovations Group PLC (LON:SUN) has said its trading was significantly stronger in the second half of the year and it anticipates full-year profit to be in-line with market expectations.

In an update on trading for the year ended 31 December 2018, the AIM-listed designer and manufacturer of innovative technology for minimally invasive surgery said it expects full-year group revenue to be approximately £11.0mln, a growth of around 25% over 2017.

READ: Surgical Innovations signs deal to sell Dexter the robot

The firm added that underlying revenue growth - adjusted for the effect of the acquisition of Elemental Healthcare Limited in August 2017 – is expected to be approximately 8%. 

It said its gross margin was within the target range and the resulting increase in profit before tax is anticipated to be in line with board expectations and market consensus.

The added that it continues to be cash generative, with closing net cash balances of approximately £0.36mln, compared with net debt at the start of the year of £0.73mln.

Surgical Innovations said its audited results for the year ended 31 December 2018 will be released in mid-March 2019.

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