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Surgical Innovations

  • BY: Andrew Hore |
  • POSTED: 05/04/2010 |

Surgical Innovations has reached a point where it can build up its revenues in the US.

The surgical instruments manufacturer and supplier has a short-term order book of £2m and initial revenues in 2010 are running at an all time high. A deal with Premier, a major US Group Purchasing Organisation, will make it easier to sell to hospitals. 

Revenues moved forward from £4.31m to £4.54m in 2009. However, underlying profits fell from £805,000 to £539,000. That excludes a £200,000 write down of the value of the autologous blood transfusion business, which is up for sale. More than £1m was invested in product development during the year.

The outcome for the year was affected by a delayed order worth £480,000. This will be delivered in April.

There was net cash of £622,000 at the end of 2009. There are plans to reorganise the share capital so Surgical Innovations can pay a dividend in the future.

At 2.375p a share, Surgical Innovations is valued at £8.88m. 

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