Advanced Medical Solutions Group (AMS)

Sector:

Health Care

Index:

FTSE AIM 50

196.00p
   
  • Change Today:
      6.00p
  • 52 Week High: 258.00
  • 52 Week Low: 177.20
  • Currency: UK Pounds
  • Shares Issued: 217.34m
  • Volume: 675,229
  • Market Cap: £425.99m
  • RiskGrade: 156

Advanced Medical Solutions trading recovering as expected

By Josh White

Date: Wednesday 07 Jul 2021

LONDON (ShareCast) - (Sharecast News) - Surgical and advanced wound care company Advanced Medical Solutions said on Wednesday that trading in its first half continued to recover in line with expectations, despite ongoing challenges from the Covid-19 pandemic, as many key markets continued to rebuild towards "more routine levels" of elective surgery.
The AIM-traded firm said revenue in the six months ended 30 June showed both of its business units reporting "significant growth", adding that it expected to report revenues of about £50m for the period, up from £39.3m year-on-year.

It said that, as volumes had increased in 2021, it had seen a "significant improvement" in operational leverage and margins for both business units.

As a result, the board said it now expected adjusted profit before tax to be in the region of £12m, compared to £5.3m in the first half of 2020.

The group said it had sustained its robust financial position throughout the disruption caused by the pandemic.

It said it had "tightly managed" working capital during the period, maintained the payment of its final 2020 dividend, and continued to generate operational cash flows, with net cash of £61m at period end, up from £53.8m a year earlier.

The company reported that the 510k filing for 'LiquiBand XL' had been submitted to the US Food and Drug Administration (FDA), with the product on schedule for approval by the end of the year.

It added that the US clinical trial for 'LiquiBandFix8' was progressing well, with more than 80% of required patient procedures now complete, and pre-market approval filing on track for 2022 after the 12-month patient follow up.

Patient enrolment for the 'Seal-G' and 'Seal-G MIST' clinical study was progressing at three sites in Israel and, following the CE-mark approvals in April, the firm said it would also be recruiting patients at five sites in the UK and Italy from the third quarter of 2021 onwards, with final study results expected in 2022.

Looking ahead, the board said the company was expecting to trade in line with its expectations in the second half of 2021, as elective surgery and accident and emergency volumes continued to trend back towards historical levels.

"I am delighted with AMS's performance despite challenging market conditions," said chief executive officer Chris Meredith.

"Our priority remains the safety of our staff and serving our customers and we are pleased to see that markets are recovering and that demand for our products is returning towards normal levels.

"Our marketing and research and development teams continue to work tirelessly to develop, launch and sell our innovative products and to ensure that we remain in the strongest possible position to grow sales and market share in the long-term."

Advanced Medical Solutions said it was expecting to announce its interim results on 15 September.

At 1043 BST, shares in Advanced Medical Solutions Group were down 0.63% at 295.64p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

AMS Market Data

Currency UK Pounds
Share Price 196.00p
Change Today 6.00p
% Change 3.16 %
52 Week High 258.00
52 Week Low 177.20
Volume 675,229
Shares Issued 217.34m
Market Cap £425.99m
RiskGrade 156

AMS Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
69.71% below the market average69.71% below the market average69.71% below the market average69.71% below the market average69.71% below the market average
37.50% above the sector average37.50% above the sector average37.50% above the sector average37.50% above the sector average37.50% above the sector average
Price Trend
28% below the market average28% below the market average28% below the market average28% below the market average28% below the market average
13.51% above the sector average13.51% above the sector average13.51% above the sector average13.51% above the sector average13.51% above the sector average
Income
85.62% below the market average85.62% below the market average85.62% below the market average85.62% below the market average85.62% below the market average
14.29% below the sector average14.29% below the sector average14.29% below the sector average14.29% below the sector average14.29% below the sector average
Growth
42.31% below the market average42.31% below the market average42.31% below the market average42.31% below the market average42.31% below the market average
55.56% below the sector average55.56% below the sector average55.56% below the sector average55.56% below the sector average55.56% below the sector average

What The Brokers Say

Strong Buy 4
Buy 2
Neutral 2
Sell 1
Strong Sell 0
Total 9
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

AMS Dividends

  Latest Previous
  Final Interim
Ex-Div 30-May-24 28-Sep-23
Paid 21-Jun-24 27-Oct-23
Amount 1.66p 0.70p

Trades for 28-Mar-2024

Time Volume / Share Price
16:35 55,643 @ 196.00p
16:35 1 @ 196.00p
16:35 342 @ 196.00p
16:35 43 @ 196.00p
16:35 196 @ 196.00p

AMS Key Personnel

CEO A Christopher (Chris) Meredith
CFO Eddie Johnson
Chair Liz Shanahan

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