Year-end Trading Update

RNS Number : 9299M

Surgical Innovations Group PLC

14 January 2019

 

Surgical Innovations Group plc

("Surgical Innovations" or the "Group")

Year-end Trading Update

Surgical Innovations Group plc (AIM: SUN), the designer and manufacturer of innovative technology for minimally invasive surgery, provides an update on trading for the year ended 31 December 2018.

Trading was significantly stronger in the second half of the year, resulting in Group revenue for the full year of approximately £11.0m. This represents growth of approximately 25% over 2017, with underlying revenue growth (adjusted for the effect of the acquisition of Elemental Healthcare Limited in August 2017) of approximately 8%.  Gross margin was within target range and the resulting increase in profit before tax is anticipated to be in line with Board expectations and market consensus.

The Group continued to be cash generative, with closing net cash balances of approximately £0.36m, compared with net debt at the start of the year of £0.73m.

Audited results for the year ended 31 December 2018 will be released in mid-March 2019.

For further information contact:

Surgical Innovations Group Plc	www.sigroupplc.com
Nigel Rogers, Executive Chairman	Tel: [phone]
Melanie Ross, COO and CFO
Walbrook PR (Financial PR & Investor Relations)	Tel: [phone] or [e-mail]
Paul McManus	Mob: [phone]
Lianne Cawthorne	Mob: [phone]
N+1 Singer (Nominated Adviser and Broker)	[phone]
Richard Lindley
Rachel Hayes

 

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