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 and advanced woundcare markets.
Our primary focus is to create quality outcomes for our:
Full Year Period End31 December 2020
Half Year Period End30 June 2020
Final Dividend Payment19 June 2020
Preliminary Results Announcement11 March 2020
Latest Financial Highlights
Whilst 2019 proved a challenging year for the Group, with the downturn of US LiquiBand® and the third-party sterilisation failure at the end of 2019 which was resolved in early 2020, we are pleased to report good growth in other areas of the business enabled the Group to deliver revenues of £102.4 million, broadly in line with 2018.
Adjusted profit before tax decreased by 7% to £26.6 million due to our operational investment in Sealantis, adverse sales mix and currency contracts. This contributed to a decrease of 8% in adjusted diluted earnings per share.
The Surgical Business Unit sales were restricted by US LiquiBand® performance, resulting in a 1% decrease in revenue to £56.5 million and by 2% at constant currency. We have made progress on the two key product approvals needed to support the recovery of LiquiBand® in the US. LiquiBand® Rapid™ was recently approved by the FDA and the LiquiBand® XL pilot clinical study is in progress and will be concluded by the end of Q1 2020.
Our Woundcare business grew 1% to £45.8 million but was flat at constant currency. We strengthened our woundcare portfolio in the year with US approvals for our antimicrobial PHMB foam and silver high-performance dressings, both of which were signed to partners and launched to the market in Q4 2019.
The acquisition of Biomatlante demonstrates our strategy of utilising our strong cash position to acquire businesses with complementary products, exciting technologies and new routes to market and the acquisition of Sealantis demonstrates our willingness to invest in longer term growth opportunities.