StockMarketWire.com - Minimally invasive surgery technology group Surgical Innovations narrowed first-half losses on rising sales.

Pre-tax losses for the six months through June amounted to £0.22 million, compared to year-on-year losses of £2.58 million. Revenue rose 63% to £4.22 million.

Adjusted earnings before interest, tax, depreciation and amortisation amounted to £0.21 million.

Net cash at 30 June was £2.66 million.

Surgical Innovations said revenues were recovering towards pre-pandemic levels in most markets, with is sales in the first two months of second half up 45% year-on-year and slightly up on 2019.

It added that it continued to trade profitably at the level of adjusted EBITDA, supported by a reduced cost base.


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