Creo Medical Group (CREO)

Sector:

Health Care

Index:

FTSE AIM All-Share

34.25p
   
  • Change Today:
    -0.50p
  • 52 Week High: 48.10
  • 52 Week Low: 23.25
  • Currency: UK Pounds
  • Shares Issued: 361.48m
  • Volume: 709,100
  • Market Cap: £123.81m

Creo Medical ends year with revenue above forecasts

By Josh White

Date: Thursday 03 Feb 2022

LONDON (ShareCast) - (Sharecast News) - Surgical endoscopy medical device company Creo Medical Group said it continued to deliver on its three-tiered 'build, buy and partner' strategy in a trading update on Thursday, saying it built momentum through "sustained commercial progress" in 2021.
The AIM-traded firm said it expected to report overall revenue for the year ended 31 December ahead of expectations, at just over £25m, despite the "well-documented challenges" related to Covid-19.

It said revenue from its core Creo product portfolio was growing, and was in line with management's cumulative revenue forecasts at the time of its initial public offering in December 2016.

"I am pleased to report on what has been a successful year for Creo, with strong progress against our 'build, buy and partner' strategy," said chief executive officer Craig Gulliford.

"We have seen significant growth in commercial orders and adoption of Speedboat Inject in the US and Europe, the successful acquisition of Aber Electronics, as well as agreeing heads of terms with a number of third parties to provide access to our advanced energy technology.

"Particularly encouraging has been completing the transition from a distribution model in core markets to an integrated direct sales team, built from the ground up in the US and through the successful integration of Albyn Medical into our European business."

Gulliford said the company saw the Covid-19 outlook improving, with an increased backlog of doctors preparing to perform procedures as staffing challenges reduced, and restrictions eased globally.

"2022 has already started positively, with strong performances seen from our core product portfolio.

"Throughout the rest of the year, we look forward to continuing to execute and expand our three-tiered strategy through the education and training of clinicians, the roll-out of our product portfolio in Asia-Pacific, and further commercial orders and adoption of Speedboat Inject in the US and Europe.

"With our strong cash position and clear strategy, Creo is well positioned to deliver shareholder value in 2022."

At 1537 GMT, shares in Creo Medical were up 28.27% at 152p.

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CREO Market Data

Currency UK Pounds
Share Price 34.25p
Change Today -0.50p
% Change -1.44 %
52 Week High 48.10
52 Week Low 23.25
Volume 709,100
Shares Issued 361.48m
Market Cap £123.81m

CREO Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
20.24% below the market average20.24% below the market average20.24% below the market average20.24% below the market average20.24% below the market average
43.75% below the sector average43.75% below the sector average43.75% below the sector average43.75% below the sector average43.75% below the sector average
Price Trend
20.91% above the market average20.91% above the market average20.91% above the market average20.91% above the market average20.91% above the market average
45.95% above the sector average45.95% above the sector average45.95% above the sector average45.95% above the sector average45.95% above the sector average
Income Not Available
Growth
40.61% above the market average40.61% above the market average40.61% above the market average40.61% above the market average40.61% above the market average
66.67% above the sector average66.67% above the sector average66.67% above the sector average66.67% above the sector average66.67% above the sector average

What The Brokers Say

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

CREO Dividends

No dividends found

Trades for 28-Mar-2024

Time Volume / Share Price
17:08 36,389 @ 34.25p
16:30 15,000 @ 34.38p
16:29 580 @ 34.45p
16:10 29,500 @ 34.50p
16:03 236,617 @ 33.51p

CREO Key Personnel

CEO Craig Jonathan Gulliford
CFO Richard John Rees

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