| CATEGORY: AIM BULLETIN SECTOR: HEALTH CARE EQUIPMENT & SERVICES |
Wound care sales drive Advanced Medical |
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Tue 09 Sep 2008
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LONDON (SHARECAST) - Wound care product manufacturer Advanced Medical Solutions said trading in the second half of the year has continued on the upward path established in the first half.
Revenue in the first half of 2008 rose 24% from £7.9m a year earlier to £9.8m, driven by a strong performance by the advanced wound care division, where sales grew 29% to £8.1m.
Growth at the wound closure and sealants business paled in comparison, but was in line with expectations, rising 8%.
Pre-tax profit jumped 80% to £1.2m from £0.7m.
Margins improved, with gross margin running at 47% versus 43% in the first half of 2007, while the operating margin improved to 10.5% from 7.2%.
“With more than two months of the second half of our financial year now completed, I am pleased to report that the group is trading strongly and the outlook for the business remains very positive,” said Dr. Geoffrey Vernon, chairman of the company.
No interim dividend has been proposed.
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