AGM Statement

RNS Number : 2635C

Surgical Innovations Group PLC

27 June 2016

 

 

 27 June 2016 

Surgical Innovations Group plc 

 (the "Company")

 AGM Statement

Surgical Innovations Group plc (AIM: SUN), the designer and manufacturer of innovative medical technology for minimally invasive surgery, will hold its Annual General Meeting today at 2pm at the offices of the Company, 6 Clayton Wood Bank, Leeds LS16 6QZ.

At the meeting Nigel Rogers, Executive Chairman, will make the following statement:

"Revenues for the first half of the year are expected to grow by at least 10% compared with the same period last year. This has been led by strong growth in demand from our US customers. The level of manufacturing activity continues to increase as a proportion of end-user demand and we are delivering continued improvement in gross margins which are expected to exceed 25% of revenues.

Our inventory is anticipated to reduce by not less than £0.5m in line with management expectations, and we are continuing to deliver further strong cash flows and significantly reduced net debt by the end of the half year.

"Our new product ranges have been presented for submission for regulatory approval on time and to budget. These are expected to launch in the second half of the year, complementing the existing range and providing further opportunities for future growth."

For further information, please visit www.sigroupplc.com or contact:

Surgical Innovations Group Plc	www.sigroupplc.com
Nigel Rogers, Executive Chairman	Tel: [phone]
Melanie Ross, Group FD & MD, SI Ltd
WH Ireland Limited (NOMAD & Broker)	Tel: [phone]
Tim Feather/Liam Gribben
Walbrook PR (Financial PR & Investor Relations)	Tel: [phone] or [e-mail]
Paul McManus	Mob: [phone]
Natalie Bruce	Mob: [phone]

 

END

 

 

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