Advanced Medical Solutions Group PLC on Wednesday said it expects pretax profit below the previous year, despite delivering strategic progress.
The Cheshire, England-based surgical dressings company said it expects to report full-year revenue between £124 million and £127 million. In 2022, the firm posted revenue of £124.3 million.
The company said it expects adjusted pretax profit between £25 million and £27 million, compared with adjusted pretax profit of GBP 28.5 million in the year prior.
It noted that it has completed a number of strategic marketing initiatives and product launches in 2023. Advanced Medical said its US LiquiBand product is achieving record revenue in 2024.
The company said the full-market launch of its LiquiBandFix8/LiquiFix product is expected in the first quarter of 2021.
Chief Executive Chris Meredith said: ‘I am delighted with the strategic progress we have made across the group in 2023, creating significant new opportunities for AMS. The completion of the new US LiquiBand route to market strategy, the US Connexicon acquisition and the roll-out of LiquiBand XL will support the delivery of record US LiquiBand revenues in 2024 and sets us up
strongly to deliver our target of doubling our market share over the next five years.
‘With the US launch of LiquiFixTM progressing well and continued growth being generated from more established brands such as RESORBA and ActivHeal, we are confident that the Group will generate strong and sustainable growth in 2024 and in the long term.’
Advanced Medical shares rose 4.2% to 211.42 each on Wednesday morning in London.
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