Advanced Medical Solutions Group plc (AIM: AMS), the surgical and advanced woundcare specialist company, today announces a first half trading update for 2019.
Winsford, UK - 21 June 2019: Advanced Medical Solutions Group plc(AIM: AMS), the surgical and advanced woundcare specialist company, today announces a first half trading update for 2019.
The Group continues to perform well and is trading in line with the Board’s expectations for the full year.
Strong growth has been seen in the majority of the Group’s product ranges and geographies. More substantial growth has been restricted by a reduction in sales of US LiquiBand predominantly due to destocking as some customers have not replenished the high inventories built for Brexit. Additionally, like for like sales for the comparative period in H1 2018 were enhanced for AMS by competitor supply issues. This temporary shortfall has been offset by other parts of the Group showing strong growth.
The Board is confident that US LiquiBand will return to strong growth in 2020 especially given the expected launch in H1 2020 of our new Liquiband XL device which will augment AMS’s wound closure portfolio and open new markets and customer opportunities.
Chris Meredith, Chief Executive Officer of AMS, commented:
“I am pleased to report that overall the Group continues to perform well and we are trading in line with the Board’s expectations for the full year. Looking ahead, we are excited about the growth prospects for the business, the integration of Sealantis and the expected impact from new product launches. AMS is in a robust position and we are confident on delivering our stated growth strategy.”
The Group expects to publish its Interim Results for the period to 30 June 2019 on 11 September 2019.
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For further information, please visit www.admedsol.com or contact:
| Advanced Medical Solutions Group plc | Tel: +44 (0) 1606 545508 |
| Chris Meredith, Chief Executive Officer Eddie Johnson, Chief Financial Officer |
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| Consilium Strategic Communications | Tel: +44 (0) 20 3709 5700 |
| Mary-Jane Elliott / Matthew Neal / Nicholas Brown / Olivia Manser |
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| Investec Bank PLC (NOMAD & Broker) | Tel: +44 (0) 20 7597 5970 |
| Daniel Adams / Patrick Robb / Gary Clarence |
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About Advanced Medical Solutions Group plc – see www.admedsol.com
AMS is a world-leading independent developer and manufacturer of innovative and technologically advanced products for the global surgical and woundcare markets, focused on quality outcomes for patients and value for payors. AMS has a wide range of products that include tissue adhesives, sutures, biosurgical devices, internal sealants, silver alginates, alginates and foams, which it markets under its brands; LiquiBand®, LiquiBand® Fix 8™, RESORBA® and ActivHeal® as well as supplying under white label.
AMS’s products, manufactured out of two sites in the UK, one in the Netherlands, two in Germany and one in the Czech Republic, are sold in more than 75 countries via a network of multinational or regional partners and distributors, as well as via AMS’s own direct sales forces in the UK, Germany, the Czech Republic and Russia. Established in 1991, the Group has approximately 630 employees. For more information, please see www.admedsol.com.
