12 March 2019 – final results
The medical instruments group has announced its results for the year to 31 December and these have revealed a strong recovery in the second half of the year. As a result, annual revenues are up 25% to £10.97m (2017: £8.75m) with adjusted pre-tax profits rising by 30% to £1.43m (2017: £1.10m) helped by an increase in operating margins. Earnings per share on the same basis were 10.5% higher at 0.21p (2017: 0.19p). The group ended the year with closing net cash of £0.38m (2017: net debt of £0.73m). The integration of Elemental is now complete and following this the group has established a new management structure to take it to the next level.m The current year has started strongly with trading well ahead of last year and we maintain our recommendation of BUY.