LONDON (ShareCast) - Shares in Surgical Innovation tumbled after it warned that following a recent review its full year revenues would be around £0.6m lower than previously anticipated.
The instrument maker explained that the review, which was launched in late September, had identified revenues that had previously been recognised on some of its transactions where a sales return will be required.

The company will also face further exceptional charges of around £1.6m thanks to redundancy payouts and one-off costs.

Anticipated losses for the full year continue to be "significant", the group cautioned.

"Against this backdrop, short-term working capital funding and cash generation remains the board's key priority and further updates will be provided to shareholders as appropriate," it said.

The share price had fallen 32.63% to 1.60p by 10:47.

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