Member Article

Leeds’ Surgical Innovations reports 13% increase in revenue

Surgical Innovations Group plc the manufacturer of surgical solutions, reports total revenues for the year ended 31 December 2013 at £8.6m, a 13% increase against the previous year (2012: £7.6m).

The group specialises in the design and manufacture of tools for minimally invasive surgery.

The group reports a substantial increase of 75% in sales to the US of SI Branded products. According to the report, overall, SI Branded product revenues have grown by 23%.

The statement also said that group profitability has been adversely affected by the combined effect of the US dollar exchange rate and more significantly the strategic investment during the second half of the year in manufacturing operations to enable and support the 75% growth in US revenues.

As a result, the adjusted EBITDA (excluding exceptional items) for the year ended 31 December 2013 will be significantly below the reported number for the year ending December 2012 (2012: £2.9m).

This was posted in Bdaily's Members' News section by Clare Burnett .