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Advanced Medical Solutions – Strong Year of Growth
Preliminary results for Paysafe (PAYS) for the year to 31st December are slightly ahead of expectations and the CEO and President is bubbling over with excitement and self praise. he is “incredibly pleased” with what was a tremendous year and is very excited about prospects for the future. Revenue rose by 68%, adjusted EBITDA by 77% and profit after tax by 60%. Statutory profit after tax however collapsed by 87% following acquisition costs and net debt surged nearly twenty fold from £22.9m.to £431.3m. although this figure is said to be not meaningful. The positive momentum which so excites the President has continued into 2016.
Advanced Medical Solutions (AMS) continues to make up for all those years of waiting whilst its new products were developed and eventually licenced. The final dividend for 2015 is to be increased by 14% after a rise of 9% in revenue, 12% in profit before tax and 10% in diluted earnings per share. Net cash increased by 98% to £34.2m. AMS made good sales progress on all business fronts, with a strong year of growth, especially in the US where market share is being increased by the success of Liquiband tissue adhesives.
Finsbury Foods (FIF) is increasing its interim dividend by 12% to 0.93p for the 26 weeks to 26th December after a strong first half performance saw like for like profit before tax rise by 22% and like for like revenue by 7.4%. Total revenue, including revenue from acquisitions was up by 84%. FIF expects to flourish in what it sees as the new era of increasing consumer confidence.
Surgical Innovations (SUN) produced significantly improved results for 2015 and with its new board and management in place, both manufacturing and operational costs were reduced and the inventory was slashed by nearly 60%. Margins also improved and revenue for the year rose by 36%. An EBITDA loss from 2014 of 0.05m was turned into a positive 0.24m in 2015 and net debt fell by 30% to £2.26m. The improvement in performance has continued into 2016.
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