Surgical Innovations delivers H2 profit amid 'period of turnaround'

(Sharecast News) - Medical technology firm Surgical Innovations Group said on Wednesday that FY24 had been a "period of turnaround", in which it had delivered a profitable second half, positioning the group for long-term growth. Surgical Innovations now expects to full-year revenues to be broadly in line with market expectations, while adjusted underlying earnings were seen "slightly ahead of market expectations", benefiting from stringent cost controls.

The AIM-listed group stated effective cost management and restructuring efforts had contributed to "a profitable second half" compared to H1.

Chief executive David Marsh said: "After a challenging start to 2024 I am pleased with the turnaround delivered in H2'24, following stringent cost controls, and the strong platform this has given us for growth. I look forward to updating shareholders further at our preliminary results in March."

Surgical Innovations also announced that Brent Greetham had been appointed to the role of chief financial officer with effect from 24 February Current CFO Chris Martin will leave the business and step down from the board on 14 February.

As of 0945 GMT, Surgical Innovations shares had shot up 21.82% to 0.67p.









Reporting by Iain Gilbert at Sharecast.com