Advanced Medical Solutions Grp PLC Pre-Close Trading Update (3031Z)

TIDMAMS

RNS Number : 3031Z

Advanced Medical Solutions Grp PLC

14 December 2017

 
   14 December 2017 
 

Advanced Medical Solutions Group plc

("AMS", the "Company" or the "Group")

Pre-Close Trading Update

Winsford, UK, 14 December 2017: Advanced Medical Solutions Group plc (AIM: AMS), the surgical and advanced wound care specialist company, today announces an update on trading for the year ending 31 December 2017.

The Group continues to make good progress and the Board expects revenue and profitability to be in line with current market expectations that include the positive impact from the recent Organogenesis licensing deal.

Chris Meredith, Chief Executive Officer of AMS, said: "The Group continues to deliver strong organic growth supported by our Research and Development activities that provide both product innovation and intellectual property. AMS is well positioned to continue on its growth trajectory."

The Group expects to publish its Preliminary Results for the year to 31 December 2017 in March 2018.

Adoption of IFRS 15

IFRS 15 (Revenue from Contracts with Customers) becomes mandatory for AMS from 1 January 2018. The main effect for AMS will be to recognise the fees received from royalty payments and from regulatory agreements as Revenue rather than as Other Income. It will have no impact on profit or cash flow. The Group however has chosen to adopt IFRS 15 early and will be reporting its results for 2017 in line with its requirements.

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For further information, please visit www.admedsol.com or contact:

 
 Advanced Medical Solutions Group             Tel: [phone] 
  plc                                                    545508 
 Chris Meredith, Chief Executive 
  Officer 
  Mary Tavener, Chief Financial 
  Officer 
 
 Consilium Strategic Communications             Tel: +44 (0) 20 
                                                      3709 5700 
 Mary-Jane Elliott / Matthew Neal       [e-mail] 
  / Philippa Gardner / Rosie Phillips 
 
 Investec Bank PLC (NOMAD & Broker)             Tel: +44 (0) 20 
                                                      7597 5970 
 Daniel Adams / Gary Clarence 
  / Patrick Robb 
 

About Advanced Medical Solutions Group plc - see www.admedsol.com

AMS is a world-leading independent developer and manufacturer of innovative and technologically advanced products for the global surgical, wound care and wound closure markets, focused on quality outcomes for patients and value for payors. AMS has a wide range of products that include silver alginates, alginates, foams, tissue adhesives, sutures and haemostats, which it markets under its brands; ActivHeal(R), LiquiBand(R) and RESORBA(R) as well as supplying under white label.

AMS's products, manufactured out of two sites in the UK, one in the Netherlands, two in Germany and one in the Czech Republic, are sold in more than 75 countries via a network of multinational or regional partners and distributors, as well as via AMS's own direct sales forces in the UK, Germany, the Czech Republic and Russia. Established in 1991, the Group has approximately 600 employees. For more information, please see www.admedsol.com.

This information is provided by RNS

The company news service from the London Stock Exchange

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December 14, 2017 02:01 ET (07:01 GMT)