Reflecting the strong financial performance and management's ongoing confidence in the Group's outlook, the Advanced Medical Solutions Board proposes an increased final dividend of 1.51p per share (2021: 1.37p) bringing the total proposed dividend to 2.15p per share (2021: 1.95p)
Other financial highlights include:
Group revenue increased to £124.3 million (2021: £108.6 million), an increase of 14% or 10% at constant currency, driven by commercial progress, foreign exchange tailwinds and higher pricing to recover inflationary cost increases
Adjusted profit before tax increased by 11% to £28.5 million (2021: £25.6 million) as the business continued to manage the majority of inflationary pressure through selling price increases
Net cash increased to £82.3 million (2021: £73.0 million) driven by strong trading and robust operational cash flow
Investment in R&D increased to £12.3 million (2021: £9.3 million), representing 9.9% of revenues (2021: 8.6%), as the Group accelerates investment in new products and Medical Device Regulation ("MDR")
Surgical Business Unit revenues increased to £74.9 million (2021: £64.6 million), an increase of 16% and of 12% at constant currency
Woundcare Business Unit revenues increased to £49.5 million (2021: £44.0 million), an increase of 13% and of 8% at constant currency
