Surgical Innovations Group plc (SI)

Surgical Innovations Group plc (SI)

Surgical Innovations Group plc (AIM: SUN), the designer and manufacturer of innovative surgical devices, today reports its final results for the year ended 31 December 2007, which have been prepared in accordance with International Financial Reporting Standards (“IFRS”).

Highlights
• Revenue up 7% to £4.77m (2006: £4.46m)
• Operating profit of £685,000 (2006: £735,000)
• Pre-tax profit up 5% to £731,000 (2006: £696,000)
• Basic earnings per share of 0.24p (2006: 0.27p)
• Global launch of YelloPort™ Plus as a “resposable™” port access system
• Strong sales growth in SI branded products
• Successful fundraising of £4m (before expenses) to aid expansion in the US and to increase SI’s device portfolio through both product acquisition and internal development
• Reorganisation of the Group into three trading companies Surgical Innovations™  Limited (minimally invasive surgery (MIS) devices), Haemocell Limited (autologous blood products) and CORE Precision Limited (surgical and industrial solutions for original equipment manufacturer (OEM) partners)

Commenting on the outlook, Doug Liversidge, Non-executive Chairman, said:

“I am delighted that once again we are able to report improved levels of profit and sales.  The domestic and overseas markets in which we operate are growing and we are confident that, with our expanding portfolio of products, we will be able to continue to generate further sales growth throughout the year.  Our confidence in our future is such that we have just completed a relocation of the business to facilities that provide us with triple the area of floor space and the capacity by which we can capitalise on this increasing opportunity.” 

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