Advanced Medical Solutions Group PLC shares surged on Tuesday as it gave a positive update and said it performed in line with consensus expectations in 2024.

The Cheshire, England-based surgical dressings company said ‘excellent progress’ has been made on integrating recent acquisitions Syntacoll and Peters Surgical, made in March and July last year.

It said the enlarged group is performing well, with strong growth across all surgical product categories.

Shares were up 12% to 213.23 pence in London on Tuesday morning.

Advanced Medical Solutions said it expects to report revenue of around £177 million for 2024, up from £126.2 million in 2023.

It guided adjusted pretax profit of between £29.2 million and £29.7 million, up from £25.9 million, and earnings before interest, tax, depreciation and amortisation of between £40.0 million and £40.5 million, increased from £29.7 million.

It also said planned strategic initiatives in the Woundcare business, responding to ‘changing market dynamics’, are being successfully executed and are expected to widen margins in 2025.

Chief Executive Officer Chris Meredith said: ‘The progress we made in the second half of 2024 has strengthened the confidence we have in the strategic rationale for the recent acquisitions of Peters Surgical and Syntacoll. The synergistic benefits they represent to AMS, in terms of products, expertise, geographic reach and scale, are clearer than ever. As we start the new year as an enlarged and more competitive group, I remain confident and excited about the growth and opportunities that we expect in 2025 and beyond.’

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