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Surgical Innovations

  • BY: Andrew Hore |
  • POSTED: 12/05/2015 |

Surgical instruments developer and manufacturer Surgical Innovations reported a loss of £9.83m for 2014. 

That includes £7.8m of impairment charges relating to capitalised development costs, stock and debtors. The cash outflow from operations was £485,000.

There was a slump in revenues from both branded and products manufactured for other companies. Overall revenues fell from £7.48m to £4.03m.

Competition remains tough but there is a strong base from which to begin to rebuild revenues.

At 1.9p a share, Surgical Innovations is valued at £9.2m. Net debt was £3.33m at the end of 2014. The majority of this is a long-term loan lasting until 2017.

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