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Annual Results

AMS adjusted pre-tax profits up

14 March 2017 09:58

Advanced Medical Solutions' pre-tax profits rose to £19.1m in the year to the end of December - up from £17.0m last time.

The group also reported its 12th consecutive year of revenue growth - up 20% on a reported basis and 13% at constant currencies at £82.6m.

Adjusted pre-tax profits rose to £19.7m from £17.4m and adjusted diluted earnings per share rose to 7.66p from 6.86p.

Chief executive Chris Meredith said: "2016 was the twelfth consecutive year of solid revenue growth for AMS and during the period all Business Units performed well resulting in increased profit and continued strong cash generation.

"Our LiquiBand products continue to perform well in the US and we now have captured more than 20% of the market with a target to achieve a further 10% share gain in the next three years.

"Our strategy for organic growth is to continue to expand into new geographies through further regulatory approvals, increase our distribution of surgical products through both our direct and distributed routes and launch further high quality products from our R&D pipeline that add value to payors and patients."

At 9:58am: (LON:AMS) Advanced Medical Solutions Group PLC share price was -9.12p at 236.88p

Story provided by StockMarketWire.com

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