AGM Statement

RNS Number : 2635C
Surgical Innovations Group PLC
27 June 2016


 27 June 2016 

Surgical Innovations Group plc 

 (the "Company")


 AGM Statement


Surgical Innovations Group plc (AIM: SUN), the designer and manufacturer of innovative medical technology for minimally invasive surgery, will hold its Annual General Meeting today at 2pm at the offices of the Company, 6 Clayton Wood Bank, Leeds LS16 6QZ.


At the meeting Nigel Rogers, Executive Chairman, will make the following statement:


"Revenues for the first half of the year are expected to grow by at least 10% compared with the same period last year. This has been led by strong growth in demand from our US customers. The level of manufacturing activity continues to increase as a proportion of end-user demand and we are delivering continued improvement in gross margins which are expected to exceed 25% of revenues.


Our inventory is anticipated to reduce by not less than £0.5m in line with management expectations, and we are continuing to deliver further strong cash flows and significantly reduced net debt by the end of the half year.


"Our new product ranges have been presented for submission for regulatory approval on time and to budget. These are expected to launch in the second half of the year, complementing the existing range and providing further opportunities for future growth."



For further information, please visit or contact:



Surgical Innovations Group Plc

Nigel Rogers, Executive Chairman

Tel: 0113 230 7597

Melanie Ross, Group FD & MD, SI Ltd

WH Ireland Limited (NOMAD & Broker)

Tel: 0113 394 6600

Tim Feather/Liam Gribben

Walbrook PR (Financial PR & Investor Relations)

Tel: 020 7933 8780 or

Paul McManus

Mob: 07980 541 893

Natalie Bruce

Mob: 07884 666 994




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