News blog
Surgical Innovations
- BY: Andrew Hore |
- POSTED: 09/01/2017 |
Surgical Innovations Group says that its 2016 figures are slightly better than forecast, helped by currency movements.
The keyhole surgery equipment developer and manufacturer says revenues will exceed £6m and gross margins have continued to improve and have moved above 32% in 2016. The company has swung back into profit. House broker WH Ireland forecasts a pre-tax profit of £78,000.
Laparoscopic equipment manufacturer Surgical Dynamics, which cost £360,000 in November, is still being integrated with manufacturing moved to Surgical Innovations’ Leeds factory.
Surgical Innovations has secured a revolving credit facility of up to £1.3m until the end of March 2020. However, net cash was £800,000 at the end of 2016.
Before Christmas £110,000 of convertible loan notes were converted into shares at 2.5p each, while executive chairman Nigel Rogers and three directors received shares at 3.5p each in lieu of remuneration.
The share price was unchanged at 4.13p.
The full year figures will be releasing in the middle of March.
© 2024 Aim Micro. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
- Browse by issue
- All issues
- Popular tags
- All tags
- AIM Micro feeds
Keep up to date with articles published at AIMMicro.com. Subscribe to AIM Micro RSS Feeds
|