AMS at a Glance
Advanced Medical Solutions Group plc is a leading developer and manufacturer of innovative and technologically advanced products for the global surgical, woundcare and wound closure markets. Our strategy is based around:
- Growth - Expanding our global presence
- Innovation - Designing and developing leading products
- Value - Offering cost-effective product solutions
Full Year End31 December 2017
Half Year End30 June 2017
Final Dividend Payment16 June 2017
Annual General Meeting7 June 2017
Preliminary Results Announcement14 March 2017
Advanced Medical Solutions Group plc is pleased to announce they have been awarded the Partnership with the NHS award at the Medilink North West... Read More
Latest Financial Highlights
AMS has had another year of strong performance and continues to progress as a leading, international provider of high quality, high value, innovative and technologically advanced products for the surgical and advanced wound care markets. We are pleased that we have delivered another year of strong revenue growth, profit performance and good cash generation.
There has been a 20% increase in revenue to £82.6 million (2015: £68.6 million), representing growth of 13% on a constant currency basis and an increase in adjusted6 profit before tax before exceptional items of 13% to £19.7 million (2015: £17.4 million), and an increase in profit before taxation of 12% to £19.1million (2015: £17.0 million). The continued strong cash flow generation of the business has resulted in the Group ending the year with net cash of £51.1 million (2015: £34.2 million).
Our strategy of having multiple products and multiple routes to market continues to pay off and we have made good progress across all Business Units in the last year. Whilst revenue growth was steady in our Branded Direct Business Unit, our Branded Distributed Business Unit’s success in the US has continued with LiquiBand® gaining market share, and surpassing our initial 20% target market share. We have also launched a range of dental sutures into the US through a new partner and we intend to expand our distribution network more widely by targeting market opportunities in Asia Pacific and South America.
Our OEM and Bulk Business Units have performed well. Our partners have delivered good growth supported by a number of new foam product launches. This follows on from our success with LiquiBand® Fix8™ hernia mesh fixation device, our first surgical device using medical adhesive inside the body, with plans in place for open surgery hernia use and other secondary indications subject to regulatory approval. The success of these launches demonstrates the strength and breadth of our innovation and product development pipeline.
AMS continues to be in robust financial health and is well positioned to invest in both internal and external opportunities in line with the Group’s long-term strategy priorities and growth objectives.