Summary Information

  Financial highlights     Operational highlights

 

  • Revenue of £7.64 million
    (2011: £7.60 million)
  • SI branded sales up 12.9% to £5.33 million (2011: £4.73 million) –
    representing 68% of total revenue
  • Gross profit up 7.3% to £3.86 million (2011: £3.60 million)
  • Gross margins improved to 50.5% (2011: 47.3%)
  • Adjusted EBITDA (excluding exceptional items) of £2.89 million (2011: £2.83 million)
  • Operating profit reduced to £1.32 million (2011: £1.77 million) –
    due to amortisation and exceptional costs
  • Pre-tax profit reduced to £1.23 million (2011: £1.71 million)
  • Adjusted earnings per share of 0.35p (2011: 0.44p)
  • Net cash from operating activities of £612,000 (2011: £1.78 million) – reflecting increase in working capital
    as a result of significant sales in December 2012

 

 

 

  • Strong second half sales with contracted orders in H2 of £5.62 million up 85% on H1 (with c. £1 million to be recognised in year ending 31 December 2013)
  • US direct sales up 21.9% to £2.15 million (2011: £1.76 million) and are now 28.1% of total revenue
    (2011: 23.2%)
  • 33% increase in unit sales of YelloPort+plus™ valves and SwingTop®s
  • YelloPort+plus™ cannula sales increased to 10,124 units (2011: 5,272 units) – will drive long-term valve sales
  • RGF grant of up to £5.05 million to fund capital expansion strategy
  • FDA approvals and US contracts provide a solid base for development
    of US strategy
  • UK SI branded sales up 34.3% as more NHS hospitals convert to cost-saving
    Resposable® products
  • New areas of MIS progressing well, particularly ultra-MIS (3mm)
    and hip arthroscopy

 

  Total revenue (£m)

 

  Adjusted EBITDA (£m)

 

  Group profit before tax (£m)