LONDON (ShareCast) - (Sharecast News) - Advanced Medical Solutions reported a 41% increase in revenue to £177.5m for the year ended 31 December on Wednesday, driven by strong organic growth and contributions from its recent acquisitions of Peters Surgical and Syntacoll.
The AIM-traded firm said that excluding acquisitions, revenue grew by 10% at constant currency.

Adjusted profit before tax rose 14% to £29.4m, though reported profit before tax fell 54% to £9.8m due to acquisition and integration costs.

Adjusted EBITDA increased 35% to £40.2m, while adjusted diluted earnings per share rose 16% to 10.45p.

The company said it ended the year with net debt of £55.8m, following the acquisition of Peters Surgical, compared with net cash of £60.2m the prior year.

It highlighted strong performances across key surgical product categories, with surgical business unit revenue, excluding Peters Surgical, rising 28% at constant currency to £98.6m.

Woundcare business unit revenue declined 11% to £41.8m, though AMS said it expected strategic initiatives to support margin improvements in 2025.

Operationally, AMS said it made significant progress in integrating its acquisitions.

The £113m purchase of Peters Surgical, completed in July, contributed £37.2m in revenue, while the March acquisition of Syntacoll added £5.6m.

It said the launch of Liquifix, the company's atraumatic hernia fixation device in the US, exceeded initial expectations and was expected to accelerate in 2025 following major group purchasing organisation approvals.

Research and development investment increased to £12.9m, though its proportion of revenue declined due to the acquisitions and reduced medical device Regulation-related spending.

The board proposed an increased final dividend of 1.83p per share, bringing the full-year payout to 2.6p, up 10% from 2023.

Management said it remained confident in the company's outlook, with strong growth expected in 2025, particularly in the US surgical market and from the accelerated rollout of key new products.

"I am very pleased to report such a strong set of results during a year where AMS went through such a significant transformation," said chief executive officer Chris Meredith.

"The integration of both Peters Surgical and Syntacoll has established the group as a larger, more diverse tissue-healing specialist with a broader geographic reach.

"2025 has started well and we remain confident that the strong, underlying momentum of our core business, combined with the broader portfolio, synergies and benefits from the acquisitions, will drive future strong topline growth and greater profitability."

At 1042 GMT, shares in Advanced Medical Solutions Group were down 3.29% at 206p.

Reporting by Josh White for Sharecast.com.

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