Year-end trading update

RNS Number : 5348B

Surgical Innovations Group PLC

11 January 2018

 

Surgical Innovations Group plc

("Group" or the "Company")

Year-end Trading Update

Surgical Innovations Group plc (AIM: SUN), the designer and manufacturer of innovative technology for minimally invasive surgery, is pleased to provide an update on trading for the year ended 31 December 2017. 

Group revenue for the year exceeded £8.7m, representing growth of approximately 44% over 2016.  Within this, organic growth in the existing business was approximately 10%.  The integration of Elemental Healthcare Limited, acquired in August 2017, continues in line with plan and following the acquisition, the reaction of both distributors and suppliers to both businesses has been very positive.  

The combined gross margins were within target range and the increasing levels of profitability are in line with board and market expectations.

Audited results for the year ended 31 December 2017 will be released in mid-March 2018.

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014.

For further information please contact:

Surgical Innovations Group plc	www.sigroupplc.com
Nigel Rogers, Executive Chairman	Tel: [phone]
Melanie Ross, COO & CFO
WH Ireland Limited (NOMAD & Broker)	Tel: [phone]
Tim Feather Alex Bond
Walbrook PR  (Financial PR & Investor Relations)	Tel: [phone] or [e-mail]
Paul McManus	Mob: [phone]
Lianne Cawthorne	Mob: [phone]

 

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