Advanced Medical Solutions Grp PLC – Trading Update

Advanced Medical Solutions Group plc (AIM: AMS), the surgical and advanced woundcare specialist company, today announces a first half trading update for 2019. 

The Group continues to perform well and is trading in line with the Board’s expectations for the full year.

Strong growth has been seen in the majority of the Group’s product ranges and geographies. More substantial growth has been restricted by a reduction in sales of US LiquiBand predominantly due to destocking as some customers have not replenished the high inventories built for Brexit. Additionally, like for like sales for the comparative period in H1 2018 were enhanced for AMS by competitor supply issues. This temporary shortfall has been offset by other parts of the Group showing strong growth.  

The Board is confident that US LiquiBand will return to strong growth in 2020 especially given the expected launch in H1 2020 of our new Liquiband XL device which will augment AMS’s wound closure portfolio and open new markets and customer opportunities. 

Chris Meredith, Chief Executive Officer of AMS, commented: “I am pleased to report that overall the Group continues to perform well and we are trading in line with the Board’s expectations for the full year. Looking ahead, we are excited about the growth prospects for the business, the integration of Sealantis and the expected impact from new product launches. AMS is in a robust position and we are confident on delivering our stated growth strategy.”