Strong second half sees turnaround for Surgical Innovations

Strong second half results for Surgical Innovations as revenues rise 25%
Credit: Nixx Photography

Surgical Innovations, the AIM-listed manufacturer of tools for minimally invasive surgery, has put in a strong second half with full-year profit expected to be in-line with expectations.

In a trading update for the year ended 31 December 2018, the med tech specialist said it expects full-year revenue to be £11 million. This represents a rise of around 25% on the previous year.

Underlying revenue growth, adjusted for the impact of the 2017 acquisition of Elemental Healthcare, is slated to be 8%.

The company continues to be cash generative with closing new cash balances of around £360,000 – compared with net debt of £730,000 at the start of the year.