Advanced Medical Solutions Grp PLC Trading Update (2048D)
July 05 2016 - 2:00AM
UK Regulatory
TIDMAMS
RNS Number : 2048D
Advanced Medical Solutions Grp PLC
05 July 2016
5 July 2016
Advanced Medical Solutions Group plc
("AMS", the "Company" or the "Group")
Trading Update
Winsford, UK: Advanced Medical Solutions Group plc (AIM: AMS), a
leading developer and manufacturer of advanced products for the
global surgical and wound care markets, today announces a trading
update covering the six-month period 1 January to 30 June 2016.
The Board confirms that trading for the six-month period is in
line with the Board's expectations. Based upon the exchange rates
as at 23 June 2016, it currently expects revenue to be ahead
(primarily as a result of currency effects) and profitability to be
in line with current market expectations for the full year
2016.
Referendum vote to leave the EU and Foreign Exchange effects
There has been no immediate impact on the Company's day-to-day
operations following the UK's referendum vote to leave the European
Union. However, as Sterling weakens against the US Dollar and the
Euro, the Group's revenues will improve. Approximately 30% of the
Group's sales are in US dollars and 30% of its sales are in
Euros.
The Group hedges significant transaction exposure and aims to
have 70% of its estimated transactional exposure for the next
twelve months, on a rolling basis, hedged. Consequently, the
benefit of weak Sterling is unlikely to be significant in the short
term.
The Group's main transactional exposure is to the US dollar as
the Group is more naturally hedged against the Euro because of its
European operations and cost base.
Chris Meredith, Chief Executive Officer of AMS, commented: "The
Board is pleased with the ongoing strong performance of the
business and we are on track for the full year. We remain focused
on our strategic objectives whilst delivering innovation to
patients and surgeons."
The Group expects to publish its Interim Results for the period
to 30 June 2016 in September 2016.
- End -
For further information, please visit our new website
www.admedsol.com or contact:
Advanced Medical Solutions Group Tel: +44 (0)
plc 1606 545508
Chris Meredith, Chief Executive
Officer
Mary Tavener, Group Finance Director
Consilium Strategic Communications Tel: +44 (0)
20 3709 5700
Mary-Jane Elliott / Jonathan AMS@consilium-comms.com
Birt / Matthew Neal / Hendrik
Thys
Investec Bank PLC (NOMAD & Broker) Tel: +44 (0)
20 7597 5970
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(R) , LiquiBand(R) and RESORBA(R) 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 more than 70 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 Company has 510 employees. For more
information please see www.admedsol.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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