9 January 2017 – trading update
The group has issued a trading update for the year ending 31 December 2016 and has confirmed that revenues for the year rose by approximately 10% over the previous year and were over £6m. Margins have also improved and the group expects to report a return to profitability at the pre-tax level. The group has repaid all its debt during the year with year end cash balances expected to be in the region of £0.8m (2015: net debt of £1.0m). The integration of Surgical Dynamics Limited is proceeding well and although the shares have run up nicely we believe they remain a LONG TERM BUY.