LONDON (ShareCast) - (Sharecast News) - Advanced Medical Solutions reported a sharp rise in first-half revenue on Wednesday as it said the integration of last year's Peters Surgical acquisition was progressing well, with trading in line with expectations and full-year guidance reiterated.
The AIM-traded tissue-healing specialist posted group revenue of £110.8m for the six months to 30 June, up 63% on the prior year, or 66% at constant currency, as its surgical unit nearly doubled sales to £87.9m, boosted by £34.3m from Peters.

Advanced woundcare revenue rose 17% to £22.9m, recovering from previous declines, while adjusted EBITDA increased 42% to £24.4m and adjusted pre-tax profit climbed 11% to £16.4m.

Reported pre-tax profit rose 49% to £8.5m.

AMS said the performance was underpinned by double-digit growth in its existing business excluding Peters, including 14% growth in US LiquiBand, 10% in Rest of World LiquiBand and 37% in biosurgical products, supported by enhanced manufacturing efficiencies and improved collagen yields following the Syntacoll integration.

The group said restructuring of its Woundcare operations was completed in the first quarter, with the refocused business now generating double-digit operating margins.

Net debt stood at £50.1m, down from £55.8m at the end of 2024, while operating cash flow more than doubled to £15.1m.

The board raised the interim dividend 10% to 0.85p per share. AMS said it expected to sustain strong growth across its enlarged surgical portfolio, with its US regulatory programmes for biosurgical and suture products on track to support medium-term expansion, and that it remained on course to cut leverage to around 1x EBITDA by year-end.

"We are pleased to report another period of strong revenue growth, driven by continued momentum across key products," said chief executive Chris Meredith.

"These results also highlight the strength and resilience of our increasingly diversified portfolio and global footprint, which help to mitigate the impact of order phasing and market specific fluctuations.

"Integration of last year's acquisitions remain on track ... and in specialty areas, such as cardiovascular, set to strengthen in the second half and beyond.

"We are also making solid progress toward upcoming US product launches.

"We believe these initiatives will significantly enhance our earnings growth potential over the medium to long-term."

At 1358 BST, shares in Advanced Medical Solutions Group were up 1.21% at 209.5p.

Reporting by Josh White for Sharecast.com.

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