LONDON (ShareCast) - Solid interim results from Advanced Medical Solutions showed revenue growth across its major business units, keeping the AIM-listed company on track with full-year expectations.
Adjusted pre-tax profits in the first half of the year of £7.3m were up 18% on the same period in 2013, as revenue grew 7.5% to £29.4m, or by 11% on a constant currency basis.

Although there was some weakness in bulk materials, falling 14% as had roughly been flagged, revenue was helped by 11% growth from ActivHeal and 13% from silver alginate, with US LiquiBand growth of 51% an important contributor as the product grabs share in a relatively new market.

Chairman Peter Allen said: "The first half of 2014 has seen another good performance by the group and we are confident of meeting current market expectations for the full year."

Margins were better than most had expected, due to an improved sales mix and timing of new hires keeping overhead costs at a similar level compared with the prior year.

The board hiked the interim dividend 15.8% to 0.22p per share.

Shares in AMS were up 2.7% to 120.13p at 15:40 on Wednesday.

Email this article to a friend

or share it with one of these popular networks:

• DIGG
• FACEBOOK
• STUMBLEUPON
• MIXX
• YAHOO BUZZ
• DELICIOUS
• REDDIT
• NEWSVINE