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Surgical Innovations revenue up more than 50% in year-to-date

By BFN News | 09:45 AM | Tuesday 22 June, 2021


Minimally invasive surgery technology group Surgical Innovations said its revenue in the first five months of 2021 had risen over 50% year-on-year. The company also said is revenue was at least 80% of that achieved for the comparable period in 2019. 'Substantial levels of restocking orders during the first quarter in Japan and the US have been encouraging and highlight both increasing activity and confidence in forward demand in those key markets,' it said in an AGM trading update. 'The UK market, whilst negatively affected in the first quarter by the second wave, has seen sales remaining higher than those seen during the first wave and continuing to improve recording monthly sales in May 2021 at the highest level since September 2019.' 'Revenues at this level are sufficient to enable the group to currently operate at adjusted EBITDA break even and operationally cash neutral before movements in working capital.' Story provided by StockMarketWire.com

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