Surgical Innovations trades in line with expectations

Minimally invasive surgery technology designer and manufacturer Surgical Innovations Group was set to hold its annual general meeting on Monday afternoon, with executive chairman Nigel Rogers confirming that trading performance in the year-to-date was in line with expectations.

The AIM-traded firm’s revenues showed “strong growth” compared with the corresponding period in the prior year, with gross margins delivered within the target range.

“Product innovation continues to be a priority, with focus on the further development of the YelloPort Elite range, our next generation Resposable port access system and the launch of further products to enhance our ranges of retraction and ligation solutions,” Rogers explained.

“The overall level of expenditure on product development has been maintained at a similar proportion of revenue as last year, demonstrating our ongoing commitment to innovation.

“The group continues to be cash generative, with net cash resources building whilst maintaining investment in development, and a modest increase in working capital due to the increased activity level.”

Rogers said that overall, the board was “satisfied” with progress.