Surgical Innovations FY pretax profit slips to £1.23m
Its revenue rose slightly to £7.64 million, from £7.6 million.
"We remain confident about the future growth prospects of the business as our existing SI branded products continue to gain international clinical recognition," chairman Doug Liversidge said.
"The US remains our largest opportunity where we have established multiple routes to market. Continued investment in developing these routes will provide quicker and easier access to this key market for both current and future products," he said.
"We expect to see a regular flow of new products throughout the year, which will help to drive future revenues, as well as the development of new and existing relationships with our strategic OEM partners, whilst retaining our primary strategic objective of growing our SI Brand," he said.
Operational highlights included:
Key operational highlights
- Strong second half sales with contracted orders in H2 of £5.62m up 85% on H1 (with c. £1m to be recognised in y/e 31 December 2013)
- US direct sales up 21.9% to £2.15m (2011: £1.76m) and are now 28.1% of total revenue (2011: 23.2%)
- 33% increase in unit sales of YelloPort+plus valves and swingtops
- YelloPort+plus cannula sales increased to 10,124 units (2011: 5,272 units) - will drive long term valve sales
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