Pre-Close Trading Update

RNS Number : 0356J

Advanced Medical Solutions Grp PLC

15 December 2015

 

15 December 2015



Advanced Medical Solutions Group plc

("AMS", the "Company" or the "Group")

Pre-Close Trading Update

Winsford, UK, 15 December: Advanced Medical Solutions Group plc (AIM: AMS.L), the surgical and advanced wound care specialist company, today announces an update on trading prior to its close period for the year ending 31 December 2015.

The Group continues to make good progress, as highlighted in the 2015 Interim Results announcement on 9 September 2015, and, despite revenue being impacted by currency, the Board expects both revenue and profitability to be in line with current market expectations for the full year 2015.

The regulatory approvals that AMS has received this year for its new antimicrobial foams, together with the clearance to market its sutures in the US, have not had an impact on the 2015 results but are expected to contribute to growth in 2016.

Chris Meredith, Chief Executive Officer of AMS, said: "The Group continues to deliver strong organic growth supported by a pipeline of new products coming out of our Research and Development teams. We are confident that AMS is very well positioned to deliver further growth."

The Group expects to publish its Preliminary Results for the year to 31 December 2015 in March 2016.

Following the publication of FRS 100 Application of Financial Reporting Requirements by the Financial Reporting Council, Advanced Medical Solutions Group plc is required to change its accounting framework for its entity financial statements, which is currently UK GAAP, for its financial year commencing 1 January 2015. The Board considers that it is in the best interest of Advanced Medical Solution Group plc to adopt FRS101 Reduced Disclosure Framework for its Parent Company financial statements, for the year ended 31 December 2015. The group financial statements will continue under International Financial Reporting Standards (IFRS)

A shareholder or shareholders may serve objections to the use of the disclosure exemptions on Advanced Medical Solution Group plc, in writing, to its registered office at Premier Park, 33 Road One, Winsford Industrial Estate, Cheshire CW7 3RT not later than 31 December 2015.

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For further information, please visit www.admedsol.com or contact:

Advanced Medical Solutions Group plc	Tel: [phone]
Chris Meredith, Chief Executive Officer Mary Tavener, Group Finance Director
Consilium Strategic Communications	Tel: [phone]
Mary-Jane Elliott / Jonathan Birt / Matthew Neal / Hendrik Thys
Investec Bank plc (NOMAD & Broker)	Tel: [phone]
Gary Clarence / Daniel Adams / Patrick Robb

About Advanced Medical Solutions Group plc - see www.admedsol.com 

AMS is a world-leading independent developer and manufacturer of innovative and technologically advanced products for the global surgical, wound care and wound closure markets, focused on quality outcomes for patients and value for payors. AMS has a wide range of products that include silver alginates, alginates, foams, tissue adhesives, sutures and haemostats, which it markets under its brands ActivHeal^®, LiquiBand^® and RESORBA^® as well as supplying under white label.

AMS's products, manufactured out of two sites in the UK, one in the Netherlands, two in Germany and one in the Czech Republic, are sold in 65 countries via a network of multinational or regional partners and distributors, as well as via AMS's own direct sales forces in the UK, Germany, the Czech Republic and Russia. Established in 1991, the Group has approximately 470 employees.

 

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