26 June 2018 – AGM statement
The company expects its revenues to be in excess of £5m for the six month period to 30 June with gross margin and profitability both slightly ahead 9of the same period in 2017. The UK market has been difficult during the period due to supply chain disruption of certain products to which we have referred before whilst there were reduced levels of spending on elective surgery in the NHS. However, there are positive signs that the NHS is returning to more normal levels of activity. Export sales of the group’s branded products are gaining traction in many overseas markets helped by new products and increased investment in this area. The group has continued to reduce costs where it can and it will have little or no debt at the end of the period. The second half of the year is expected to show an improvement over the first half and we maintain our recommendation of BUY.