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Surgical Innovations

  • BY: Andrew Hore |
  • POSTED: 29/09/2008 |

A move to new premises held back Surgical Innovations in the first half of 2008.

The surgical instruments manufacturer and supplier has moved to much larger premises which provide the additional capacity management believes that Surgical Innovations will need. Manufacturing more products in-house will boost margins.

Revenues fell from £1.95m to £1.74m in the six months to June 2008, while profits dipped from £118,000 to £110,00. The fall would have been greater without the additional interest on the cash raised last year. Net cash is £1.78m.

The YelloPort resposable port access system is taking longer than hoped to build up sales. When hospitals have converted to the resposable system sales of the disposable parts of the product have started to come through.

Some products have been improved so that they can compete more effectively in the highly competitive US market. Surgical Innovates has completed evaluations with hospitals in Indiana, Virginia and New York and is currently involved in a major trial in California.

The company is working with manufacturers to design new products that will be launched before the end of 2008. The industrial side of the business has won additional orders.

The share price fell 0.25p to 1.25p, valuing Surgical Innovations at £4.67m.

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