Surgical Innovations Group (SUN)

Sector:

Health Care

Index:

FTSE AIM All-Share

 0.55p
   
  • Change Today:
      0.000p
  • 52 Week High: 0.80
  • 52 Week Low: 0.40
  • Currency: UK Pounds
  • Shares Issued: 932.82m
  • Volume: 338,616
  • Market Cap: £5.13m
  • RiskGrade: 341
  • Beta: 0.52

Surgical Innovations returns to profitability in H2

By Iain Gilbert

Date: Monday 23 Jan 2023

LONDON (ShareCast) - (Sharecast News) - Surgery technology group Surgical Innovations said on Monday that it had seen a "significant improvement" in sales and a return to profitability in the second half of the trading year.
Surgical Innovations said revenues for the year ended 31 December were expected to be approximately £11.3m, an increase of more than 20% year-on-year and 6% ahead of pre-pandemic 2019. H2 sales were said to be roughly 10% higher than the first half.

Overall, SI anticipates reporting adjusted underlying earnings of approximately £700,000, in line with market expectations, and to return to overall profitability in the second half, with a modest adjusted pre-tax profit before for the full year.

The AIM-listed group pointed out that the UK had "a strong finish to the year", with new hospital conversions underpinned by the company's sustainability strategy, leading to annual sales for the UK tracking 30% above 2021 and 20% above pre-pandemic levels. OEM sales grew 45% on 2021 and were now close to pre-Covid levels.

"The strong UK sales growth highlighted in Q4 has continued into the current year, with new business wins contributing to year-on-year growth. While the company is mindful that strike action and other winter pressures upon the NHS have the potential to slow down the positive effect of these opportunities in the early part of 2023, the underlying UK business remains strong," said Surgical Innovations.

"The supply chain and people challenges of 2022 still remain but are under better control and it is anticipated that these obstacles will gradually recede through 2023."

As of 1115 GMT, Surgical Innovations shares were trading 8.75% higher at 1.74p.





Reporting by Iain Gilbert at Sharecast.com

Email this article to a friend

or share it with one of these popular networks:


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.

 

SUN Market Data

Currency UK Pounds
Share Price 0.55p
Change Today 0.000p
% Change 0.00 %
52 Week High 0.80
52 Week Low 0.40
Volume 338,616
Shares Issued 932.82m
Market Cap £5.13m
Beta 0.52
RiskGrade 341

SUN Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
62.61% above the market average62.61% above the market average62.61% above the market average62.61% above the market average62.61% above the market average
42.86% above the sector average42.86% above the sector average42.86% above the sector average42.86% above the sector average42.86% above the sector average
Price Trend
31.84% below the market average31.84% below the market average31.84% below the market average31.84% below the market average31.84% below the market average
24.32% below the sector average24.32% below the sector average24.32% below the sector average24.32% below the sector average24.32% below the sector average
Income Not Available
Growth
12.87% above the market average12.87% above the market average12.87% above the market average12.87% above the market average12.87% above the market average
16.67% below the sector average16.67% below the sector average16.67% below the sector average16.67% below the sector average16.67% below the sector average

What The Brokers Say

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

SUN Dividends

No dividends found

Trades for 11-Dec-2024

Time Volume / Share Price
13:09 244,000 @ 0.50p
09:33 85,921 @ 0.58p
08:02 8,695 @ 0.58p

SUN Key Personnel

CEO David Marsh
Chair Jonathan Glenn

Top of Page