Advanced Medical Solutions Grp PLC Pre-Close Trading Update (3031Z)
December 14 2017 - 2:01AM
UK Regulatory
TIDMAMS
RNS Number : 3031Z
Advanced Medical Solutions Grp PLC
14 December 2017
14 December 2017
Advanced Medical Solutions Group plc
("AMS", the "Company" or the "Group")
Pre-Close Trading Update
Winsford, UK, 14 December 2017: Advanced Medical Solutions Group
plc (AIM: AMS), the surgical and advanced wound care specialist
company, today announces an update on trading for the year ending
31 December 2017.
The Group continues to make good progress and the Board expects
revenue and profitability to be in line with current market
expectations that include the positive impact from the recent
Organogenesis licensing deal.
Chris Meredith, Chief Executive Officer of AMS, said: "The Group
continues to deliver strong organic growth supported by our
Research and Development activities that provide both product
innovation and intellectual property. AMS is well positioned to
continue on its growth trajectory."
The Group expects to publish its Preliminary Results for the
year to 31 December 2017 in March 2018.
Adoption of IFRS 15
IFRS 15 (Revenue from Contracts with Customers) becomes
mandatory for AMS from 1 January 2018. The main effect for AMS will
be to recognise the fees received from royalty payments and from
regulatory agreements as Revenue rather than as Other Income. It
will have no impact on profit or cash flow. The Group however has
chosen to adopt IFRS 15 early and will be reporting its results for
2017 in line with its requirements.
-End -
For further information, please visit www.admedsol.com or
contact:
Advanced Medical Solutions Group Tel: +44 (0) 1606
plc 545508
Chris Meredith, Chief Executive
Officer
Mary Tavener, Chief Financial
Officer
Consilium Strategic Communications Tel: +44 (0) 20
3709 5700
Mary-Jane Elliott / Matthew Neal AMS@consilium-comms.com
/ Philippa Gardner / Rosie Phillips
Investec Bank PLC (NOMAD & Broker) Tel: +44 (0) 20
7597 5970
Daniel Adams / Gary Clarence
/ 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 75 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 600 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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