Advanced Medical Solutions Group on Track to Meet Expectations for 2023

by Warren Seah

Advanced Medical Solutions Group has reported revenue growth for the first half of the year and is on track to meet expectations for 2023.

Revenue Growth in the First Half

The U.K. surgical and wound-care specialist expects to report between £62.8 million and £63.2 million ($80.8 million-$81.3 million) in revenue for the six months ended June 30, representing an 8% year-on-year increase.

Disrupted Ordering Patterns

During the first half, the group experienced disruptions in its ordering patterns as it accelerated its 2024 U.S. LiquiBand growth initiative. However, it anticipates a normalization of order volumes in the second half and expects accelerated growth from 2024 onwards.

Expected Adjusted Pretax Profit Range

The group projects an adjusted pretax profit within the range of £13.4 million to £13.8 million for the half year, compared to £13.6 million for the same period last year. The short-term downturn of LiquiBand sales and lower Organogenesis royalty payments contributed to this variation.

Outlook for the Full Year

Advanced Medical Solutions Group anticipates an improvement in its product mix and expects earnings to be second-half weighted for the full year. While the company did not provide specific figures, a consensus forecast based on four analysts’ calculations estimates revenue of £132.2 million and adjusted pretax profit of £31.4 million for 2023.

For further information, contact Elena Vardon.

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